Chinese automakers are no longer content with regional dominance, as they’re eyeing the world stage. And if you ask Carlos Tavares, the former head of Stellantis, they might actually pull it off.

The outspoken executive believes Chinese manufacturers could end up rescuing Europe’s car industry from its slow decline. Names like BYD and Geely, he says, may not just survive the global shake-up but emerge as the last few standing.

Read: The Guy Who Broke Stellantis Now Thinks It Might Break Up

Since stepping down from Stellantis nearly a year ago, Tavares has spent his time writing a memoir and touring the press circuit to promote it, offering a steady stream of predictions about where the auto industry is headed.

Will China Save Europe’s Factories?

He’s claimed that Stellantis itself might split apart and even floated the idea that Tesla could exit the car business entirely. Now he’s suggesting that within the next 10 to 15 years, Chinese brands could step in to save Europe’s automotive sector, though not without cost.

“There are lots of nice windows being opened up for the Chinese,” he told The Financial Times. “The day a western carmaker is in severe difficulty, with factories on the verge of closing and demonstrations in the street, a Chinese carmaker will come and say ‘I’ll take it and keep the jobs’, and they’ll be considered saviors.”

Tavares has experience dealing with Chinese car firms. He orchestrated Stellantis buying a 20 percent share of Leapmotor to help launch it into international markets. He also acknowledges that Leapmotor likely entered the deal because “they want to swallow us [Stellantis] some day.”

Trouble in Europe’s Auto Core

The former Stellantis boss hasn’t softened his criticism of Europe’s automotive policy. He argues that the European Union’s ban on new internal combustion cars by 2035 has forced local automakers into massive, and potentially wasted, investment.

According to Tavares, European car companies have poured more than €100 billion into electrification since the rule was introduced. He now predicts the EU will backtrack on the plan entirely.

More: Carlos Tavares Thinks Tesla Might Not Exist In 10 Years

“Who is holding the EU to account for the €100bn of investments that won’t be used? No one,” he said.

The global car industry is in such a dramatic state of flux that Tavares thinks most current brands won’t survive. In fact, he predicts that as few as five or six carmakers will survive.

These could include Toyota, Hyundai, BYD, and likely another Chinese firm, possibly Geely. In this scenario, the rest of the brands would likely be gobbled up by these conglomerates.

Interestingly, Tavares doesn’t include Stellantis among the survivors. Whether that’s professional detachment or a parting shot from a man who knows too much is anyone’s guess.

Volvo may have walked back its commitment to transition to an all-electric brand by 2030, but despite that, it still acknowledges that EVs are the way forward, even if it takes the industry a little longer than originally forecast to make the shift.

Read: New Volvo XC70 Dumps Its Wagon Past And Goes Full Crossover

As electrification begins to grow and brands from China establish themselves as serious global juggernauts, the Swedish automaker’s CEO predicts that some Western carmakers will collapse.

Since April, Volvo has been led by Hakan Samuelsson. The 74-year-old Swede had previously steered the carmaker for almost a decade but stepped down as boss in 2022, only to be brought back on a two-year contract to steer Volvo through choppy waters. Samuelsson believes that “there’s no turning back,” against the inevitable electric transition of the industry and that new dominant players will emerge.

Industry Upheaval Ahead

“The industry will be electric – there’s no turning back,” he told Bloomberg. “It may take a bit longer in some regions, but the direction is clear. In (about) 10 years, cars will all be electric and they will be lower cost. There will be new dominant players, exactly as Ford, GM, Toyota and Volkswagen were in the old world.”

“In the new world, there will be two or three very strong Chinese brands,” Samuelsson added. “That makes the room for the old ones tougher. So this will trigger a (wave of) restructuring. Some companies will adapt to new circumstances and survive. Others will not.”

An Electrified Future

To ensure it can survive, Volvo is investing heavily in battery-electric vehicles and plug-in hybrids, ensuring it can cater to demand for different electrified vehicles around the world. According to Volvo’s boss, plug-in hybrids will serve as an important “bridge until charging is everywhere,” noting that it “may take some more years beyond 2030,” before EVs can dominate, depending on customer demand and charging infrastructure.

Chinese Ties As An Advantage

Volvo is in a unique position among European car manufacturers as its parent company, Geely, is Chinese and among those brands at the forefront of the EV revolution as the owner of brands including Lotus, Zeekr, Polestar, and Lynk & Co. Samuelsson noted that “the stronger the Chinese car industry becomes, the more valuable our connection with Geely is.”

“Chinese brands are already more than half the market in China, and they are entering Europe. That puts pressure on Europeans and Americans, who are competing in a shrinking part of the market,” he added. “China, whether we like it or not, will be a very big player in the car industry in the future, not just in China.”