Once-dominant foreign auto brands pledge comeback in China

Global automakers, including Toyota and Volkswagen, took the stage at the Shanghai auto show on Tuesday with built-for-China and electric-drive products to compete for a high-stakes comeback in the world’s largest market. But after a year when trends have shifted sharply against the established foreign brands that once dominated in China, executives from Chinese automakers offered a reality check: the game is moving faster and the pressure to cut prices is getting more intense. Volkswagen said at the show it would introduce 10 more electric vehicle (EV) models by 2026 and cut the time to develop new models by almost 40% to keep pace with faster-moving Chinese rivals.