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by frm88
3 days ago
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Since 2018 ~400 chinese EV producers were allowed to stop operations. An industry that exists because of subsidies and preferential loans as well as state induced trade barriers is not sustainable. From 2020 onwards, the Chinese government began phasing out its EV subsidy program. This policy shift came just as the country entered a price war, led by aggressive pricing from giants like BYD and Tesla. The combination of reduced state support and brutal price competition proved fatal for many underfunded startups. https://evboosters.com/ev-charging-news/400-chinese-ev-compa... |
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