Reported 7 months ago
BYD and other Chinese automakers' ultra-low-price strategies have not only changed the global electric vehicle market's competitive landscape but also had profound impacts on related supply chains, economies, and political environments. The electric vehicle market, once a future trend, is now facing unprecedented challenges with overcapacity, escalating price wars, and consumer hesitation, leading to a shadow over the previously bright prospects. Furthermore, the growth of hybrid vehicles poses strong competition to pure electric vehicles, with forecasts showing hybrid vehicle market share reaching 15% in 2025 compared to electric vehicles' 20%.
Source: YAHOO