China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home
Publishing timestamp: 2024-05-03 06:13:21
Summary
The adoption of battery and hybrid-powered cars has surged in China, leading to a price war among automakers. Chinese companies like GAC are facing intense competition both domestically and internationally, with a focus on developing competitive electric vehicles and expanding overseas. The Chinese auto industry is also facing regulatory scrutiny abroad, with concerns about overcapacity and the need to address the shift towards electric vehicles.
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Keywords: zhejiang leapmotor technology co ltd, business news, lotus technology inc, volkswagen ag, contemporary amperex technology co ltd, nio inc, market insider, geely automobile holdings ltd, technology, markets, tesla inc, breaking news: technology, guangzhou automobile group co ltd, byd co ltd, autos, stock markets,
Source: https://www.cnbc.com/2024/05/03/chinas-automakers-must-adapt-quickly-or-lose-out-on-the-ev-boom.html