Why China Is Beating The U.S. In Electric Vehicles
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Chinese EV companies are redefining the automotive industry with aggressive pricing, fast product cycles and advanced technology — pushing traditional automakers to fight for relevance in China’s market. ➡️ Volkswagen is rolling out five new electrified models under its “In China, for China” strategy ➡️ Meanwhile, Tesla skipped the Shanghai Auto Show for the third straight year. CNBC’s Lin Lin reports. | CNBC International
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Rounds of price cuts led by the world’s largest EV maker, BYD, is setting a price war that is upsetting Chinese EV industry leaders. ➡️ Xpeng CEO warns that the price war “won’t be ending soon,” despite the government’s efforts, as rapid technology advancements intesify the competition. Budget EV maker, Leapmotors, anticipated the scenario and hopes for Leapmotor prices to remain stable. ➡️ Chinese EV automakers need to find new markets to address their overcapacity problem. However, exporting w
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Tesla owners and investors once believed the company and CEO Elon Musk were changing the world. Now many are selling their cars and dumping stock. Find the full report: cnb.cx/3ELih1E | CNBC
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