Chinese EV makers face ‘do-or-die moment’ as competitive screws tighten

Quick Summary:

Only those that can sustain operations without external funding will stay in the race amid overcapacity and tariff woes, analysts say.

By the end of 2023, EV assemblers in mainland China were capable of producing 17 million electric cars annually, and the overall factory utilisation rate stood at 54 per cent, according to Goldman Sachs.

All of them have made plans to stem their losses.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: Makers Electric Discount Year Unprofitable Market Chinese Vehicle Tariffs (ev) Ravaged

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 08:30:09 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 222 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23750425

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