Much of Asia will enter the Lunar New Year on Wednesday, January 29, under the zodiac sign of the snake. This animal is discreet, enigmatic and agile. It hides its intentions and does as it pleases. The first weeks of 2025 seemed to confirm this omen. We saw it earlier this week, with the American stock market crash on artificial intelligence. We should soon see it in the European automotive industry, also condemned to strategic agility.

Europe's manufacturers, often pioneers in China, now understand that it is they who will have to make way for their new competitors. As the English say, "If you can't beat 'em, join 'em." Three recent events attest to this.

The first is the most surprising. To protect its manufacturers, the European Commission has just imposed antidumping taxes on Chinese automakers since the end of October 2024, based on the state aid they received. But some manufacturers don't want this protection. German carmaker BMW and American carmaker Tesla have joined their Asian rivals in challenging the decision before the Court of Justice of the European Union. They fear retaliatory measures that would penalize their exports there, which are already under considerable pressure.

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