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Bankruptcies hang over China’s electric car market
- olivermarks 7y ago'China’s electric vehicle sales have grown tenfold since 2014 and last year it became the first country to see new energy vehicle sales surpass 1m, about three-quarters of which were pure EVs and the rest hybrids. But that growth has been dependent on subsidies averaging at Rmb70,000 ($10,100) per vehicle, allowing companies to lower prices. This month, subsidies will be cut to about Rmb25,000 for most vehicles. That will force companies to raise prices, wiping away one of the key reasons for their sales at a stroke, or accept lower margins on businesses that are already lossmaking.'
- Fjolsvith 7y agoPaywalled.