Most of these EV companies in China are going bankrupt, selling each car at a loss. Recently, Ji Yum Auto, founded by Baidu and Neely, shut down last December. A live streamer was live streaming selling the car. Upon hearing the news, she was bawling and told the listener to not to check out the car https://www.youtube.com/watch?v=HYdm2K81bW0.
To put this in perspective, the number of car manufacturers in China has dropped from 300 to 150 in the past few years. Further consolidation is expected.
So it's probably a good idea to buy from an EV company that is profitable. For example BYD has a gross profit margin of over 20%. That's approximately double the profitability of Western firms.
So it's probably a good idea to buy from an EV company that is profitable. For example BYD has a gross profit margin of over 20%. That's approximately double the profitability of Western firms.