The fact that not everything works in China is evident from the sales of the Chinese EV brands.
Who would have thought: China is actually ahead when it comes to electric cars. This is evident from a few things. For example, the Chinese car manufacturer BYD (Bie-Wei-Dee, Build Your Dreams) bigger than Tesla. By this we do not mean in terms of surface area or the ego of the CEO (the latter is physically impossible), but in terms of the number of electric cars built.
In China, the adaptation of electric cars is going extremely well. There are several reasons for this. For example, the Chinese have only been driving cars for 35 years and the vast majority have only been driving recently, so they don't feel like they are missing a hum-hum sound.
In addition, China has a huge smog problem in some densely populated cities, so people see the need for it. Oh yeah, taxes help too. If you think cars are expensive in the Netherlands, take a look at China.
Chinese EV brands do not meet target
But it's not all smooth sailing in the country's favorite country @rubenpriest. Bloomberg reports that only a third of manufacturers met their sales target. Of the 13 brands in question, only 4 brands have announced their sales figures. Li Auto Inc (not yet in the Netherlands) has achieved its goal best.
In China, the Beijing manufacturer sold 376,030 units, significantly more than their own target of 300,000 units. BYD just reached its hugely ambitious target of 3,000,000 units with 3.01 million cars. This makes the manufacturer from Shenzen larger than Tesla. Geely also achieved its target, although the figures have yet to be released. We do know that the new Zeekr brand was approximately 85% of the target.
Nio and XPeng
Things are going wrong with brands like Nio, Xpeng and Zhejiang. These brands scored very poorly for the second time in a row. At least, compared to their own objectives. These brands have already made some changes to their management teams and in the case of Nio, they have also fired people. You know: rightsizing and all that. For Hozon (yes, we have never heard of that either) it is more serious.
Not only did they fail to meet their targets, Hozon's sales also declined. Apparently Hozon is a budget-oriented mass producer of cheap EVs, so it hits them extra hard. The CEO of Hozon has announced on social media that he is going to crack down on his marketing team.
Through: Bloomberg
Thanks to Michael for the tip!
This article Not everything works out in China: Chinese EV brands are having a hard time first appeared on Autoblog.nl.
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