100% truth.

It applies to european market too.
Toyota started to produce the trucks in France, purchased BT and generally is very present in Europe.
Nacco manufactures the trucks in Ireland and Italy and they are present here too.

I am not sure if chinese manufacturers will be able to go this way.

The advantages they have are based on pricing policy only.
These prices are the result of low labour costs and taxes.
It's even confirmed, that chinese government subsidizes the domestic manufacturers when they produce for outer markets.

All these issues will be not actual, when they start the production in Europe.

The chinese companies have capital (really big one) and perhaps they will purchase some high technology.
But this is a bit too little.
Chinese advantages remain valid till the production stays in China.