Amidst the evolving market landscape and the pressing need for transformation, traditional foreign automakers are intensifying their partnerships with local Chinese enterprises to mount a 'counteroffensive' in the Chinese market. Volkswagen has sealed an agreement with China's FAW Group, aiming to introduce 11 models specifically tailored for the Chinese market from 2026 onwards, six of which will be purely electric vehicles. On the other hand, BMW China has forged a partnership with Huawei to seamlessly integrate into the HarmonyOS ecosystem and roll out digital services. Executives from foreign automakers have underscored the significance of bolstering local cooperation in China. Lucas di Grassi, CEO of Renault Group, emphasized that European automakers must collaborate with Chinese manufacturers to avoid lagging behind in the automotive industry. Given China's industrial prowess in new energy vehicles, joint ventures are urged to boost their local investments. These collaborations signify a pivotal phase in the Joint Venture 2.0 era, prioritizing electrification and intelligence.