BYD’s Profits Sink 33%! 2026 Might Be the Turning Point Toward the Downfall of China’s EV Newcomers
BYD’s Profits Sink 33%! 2026 Might Be the Turning Point Toward the Downfall of China’s EV Newcomers
Udumbara
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According to Bloomberg, quoting Bing Yuan, a fund manager at Edmond de Rothschild Asset Management, the first quarter of 2026 will be very challenging. The termination of the car replacement subsidies and electric vehicle purchase tax reductions will further weaken demand for electric vehicles in China. Bloomberg predicts that sales growth for electric vehicles in China will drop from 27% to just 13% in 2026.
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