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China’s distorted ev market now threatens to hoard industry jobs by making it impossible for any car company to turn a profit Chinese automakers, desperate to meet their sales targets… In the end, china’s ev industry may overrun its competitors, but.
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China's electric vehicle market, once booming, is now imploding due to overcapacity, price wars, and subsidy cuts, threatening global auto industries Chinese automakers, desperate to meet their sales targets in a bitterly competitive market, sell cars to dealerships, which … Despite milestones like evs outselling gas cars, intense competition and economic pressures are forcing a painful shakeout in the world's largest ev market.
An anonymous reader quotes a report from the atlantic
In china, you can buy a heavily discounted used electric car that has never, in fact, been used Chinese automakers, desperate to meet their sales targets in a bitterly competitive market, sell cars to dealerships, which register them as sold. Once hailed as proof of china’s technological ascendancy, the nation’s electric vehicle industry is now buckling under state overreach, overproduction, and mounting losses, threatening both china’s economy and the global auto market. C ritics of china’s economy often complain that its investment is excessive and its official statistics flatter its performance
But recent monthly figures have flipped the script In china, you can buy a heavily discounted “used” electric car that has never, in fact, been used
