Hundreds Of Billions Lost: 13,000 Chinese EV, Solar, Lithium Battery Companies Collapse In 6 Months
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The Chinese electric vehicle boom surged for a decade, fueled by government subsidies that created a wave of new automakers while exposing the risks of industries built on hype. Qiantu Motor was one of the biggest examples. After burning through 3 billion yuan, the company sold only 179 vehicles, meaning it lost more than 16 million yuan on average for every car sold.
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