Artificial Intelligence Is Killing European Union First: Mercedes, BMW, and Audi are facing a Nokia moment

"Luxury cars made in Germany are threatened by more than just tariffs.

Priority for China: BYD cars are setting standards in autonomous driving and battery technology.

Mercedes, BMW, and Audi are facing a Nokia moment [1]. With self-driving cars and ultrafast-charging batteries, Chinese manufacturers are setting the tone."

 

1. A "Nokia moment" refers to a situation where a company, once a market leader, experiences a sudden and dramatic decline due to its inability to adapt to changing market conditions and technological advancements, ultimately leading to its downfall. Nokia was once the undisputed leader in the mobile phone market, holding a significant share of the global market. However, it failed to adapt to the rise of smartphones and the shift towards touchscreens and user-friendly operating systems like iOS and Android.