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| “Last Judgment“ as envisioned by Stefan Lochner in the car free year of 1435 |
The European and American automotive industry should wake up. Reuters quoted Sergio Marchionne, CEO of Chrysler Group LLC and Fiat SpA saying: “The excuse that we did not understand or that we underestimated the scale will serve no purpose. Rather we need to continue to work to make our industrial base more competitive, because the day of reckoning is inevitably coming.“
He is referring to the partnerships between European and US car companies with Chinese companies that have transferred crucial technology to China. This is going to boomerang when the Chinese cars (built with European and US IPRs) will start to invade European and US markets in significant numbers.
Read the Reuters article here.
But wait. According to Nathan Myhrvold and Edward Jung, respectively CEO and CTO of Intellectual Ventures, non-Chinese companies might get a smaller part of the pie, but the pie will be growing. Read their Wall Street Journal article here.