Chinese EV Companies Are Falling Behind On Their Bills

Transitioning from a century-old gas car industry into one that relies on electricity and other alternative fuels was never going to be smooth. This shift is proving to be more turbulent than anticipated in China, the world’s largest EV and passenger car market. The latest indicator of stress in the fiercely competitive Chinese EV market is the time brands are taking to pay their suppliers.

The prolonged payment cycles reflect the pressure many Chinese automakers are facing. Some 200 EV brands are jostling for a share of the market and only a few are expected to survive by the end of the decade. What was once a rapidly expanding EV market is now facing weaker demand, which automakers are countering with aggressive price cuts. Get the best news, reviews, columns, and more delivered straight to your inbox. Sign up For more information, read ourPrivacy Policy and Terms of Use.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese companies win more bids to explore for Iraq oil and gasChinese companies win more bids to explore for Iraq oil and gas
Source: Investingcom - 🏆 450. / 53 Read more »

Chinese companies win licensing bids to explore Iraq oil and gas fieldsChinese companies win licensing bids to explore Iraq oil and gas fields
Source: Investingcom - 🏆 450. / 53 Read more »

Dozens of Chinese companies hit with US trade restrictions over 2023 spy balloon incidentThe Biden administration added 37 Chinese entities to a trade restriction list on Thursday, including some for allegedly supporting the suspected spy balloon that flew over the United States last year, heightening tensions between Beijing and Washington.
Source: cnnbrk - 🏆 393. / 55 Read more »

Russia breached chemical weapons ban in Ukraine, U.S. says as it sanctions Chinese companies over warThe United States accused Russia of violating the international chemical weapons ban by deploying the choking agent chloropicrin against Ukrainian troops.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »