Despite achieving significant sales milestones, numerous Chinese EV automakers are grappling with substantial financial losses attributed to aggressive price competition and rising operational costs.
Nio’s CEO William Li calls attention to a challenging sales environment where the pressure to achieve affordability rapidly transforms into a fight for survival among EV makers.
While Nio set a record with 61,800 vehicles delivered last quarter, their average selling price drop resulted in a widening net loss, showcasing the paradox facing automakers.
The competitive landscape among Chinese EV makers shows that even record deliveries can’t shield companies like Xpeng and Zeekr from substantial net losses, highlighting the ongoing strife in the market.
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