Chinese electric vehicle (EV) makers like BYD are facing challenges overseas, including vehicle pile-ups, weak demand, quality-control issues, and internal tension. A McKinsey report reveals a significant disillusionment among Chinese EV owners, with 22% stating they wouldn't consider new energy vehicles for their next car, contrasting sharply with the 3% recorded in 2022. EV charging problems are deepening in China as consumer confidence wavers, impacting the market.
Even in China EV adoption is plateauing. One in Five of China’s Electric Car Owners Wouldn’t Buy Another Due to Charging Problems, McKinsey Report Reveals. https://t.co/yvNjiKaUog
"#Apple may have halted its efforts to build #EVs but Chinese smartphone maker #Xiaomi is accelerating...Even w/Tesla & BYD dominating the home market, being a smartphone maker gives it the potential to carve out space in #China’s saturated EV market" https://t.co/cMxtRIFMml
The technology news making headlines in China today includes: - China Telecom unit to buy majority stake in QuantumCTek - Xiaomi surges after setting launch date for debut EV - Mounting competition in China comes at a bad time for Tesla https://t.co/W1BBjvuEvq
EV charging problems deepen as Chinese consumer confidence wavers: McKinsey https://t.co/0pVeG9ztqU
Breakingviews - China's Xiaomi embarks on Apple's road not taken https://t.co/vcnvXQzA34 https://t.co/vcnvXQzA34
One in Five of China’s Electric Car Owners Wouldn’t Buy Another Due to Charging Problems, McKinsey Report Reveals https://t.co/xBGvv2svl8
A McKinsey report has shown significant disillusionment among Chinese electric car owners in 2023, with 22% stating they wouldn’t consider new energy vehicles (NEVs) for their next car. This figure starkly contrasts with the mere 3% recorded in 2022. https://t.co/wlmT2SGQ5u
CHINA’s electric vehicle sales hit problems in export markets: https://t.co/vX1Hxpzlff
Caixin Analysis: Mounting Competition in China Comes at a Bad Time for Tesla https://t.co/El2qQqGT9m
China’s smartphone makers can find an edge in cars as Apple retreats https://t.co/RsEL9jcgdN | opinion
"Having Overtaken Tesla, BYD Is Running Into Problems Overseas: Chinese EV maker sees vehicles pile up amid weak demand, quality-control issues and internal tension" https://t.co/3FD5U6Khdk via @WSJ