Automotive Policy Earthquake: Will the joint venture brand become history? Will it be cheaper to buy a car?

Domestic, joint venture, and import are the most basic classifications of cars by many Chinese. Perhaps because the joint venture brand has existed for too long, or because the sales volume of joint venture cars is too large, few people have thought about whether the joint venture brand will disappear one day.

However, according to policies, our most basic classification of cars may be about to change. In the upcoming 2022, the restrictions on the foreign shareholding ratio of passenger cars will be lifted. This means that foreign brands can have more shares in joint venture car companies, and even directly become foreign capital in joint ventures. Moreover, foreign brands can even establish wholly-owned factories in China.