No Money, No Purchases, China’s EV Firms in a Bloody Survival Battle, 70% of Brands to Vanish
No Money, No Purchases, China’s EV Firms in a Bloody Survival Battle, 70% of Brands to Vanish
Udumbara
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These past few days, I've been closely following the fierce competition in the electric vehicle industry. After Xiaomi's electric vehicle pre-launch, they've been hesitant to disclose the price, keeping everyone in suspense. With major vehicle brands reducing prices, like BYD Qin dropping to 79,800 yuan recently, I feel like the EV market is in a rat race. Xiaomi must be in pain right now; they haven't even considered selling yet, but they have to think about price reductions first. With slim profits to begin with, lowering prices won't make them money, but not lowering prices means they lose competitiveness and can't sell. It's a lose-lose situation. I thought about the root cause and finally figured it out: when the entire nation, the consumers, have no money, nobody can survive!
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