said Tu Le, founder of Beijing-based advisory firm Sino Auto Insights.
"They likely [saw] a buildup of overcapacity [and] too many brands that won't be able to compete in the market with product," he said. "This has happened often in the Chinese market across sectors and leads to a race to the bottom where companies compete solely on price. It stresses the entire sector since these non-competitive companies are happy to throw good money after the bad.
Let's see if my imagination is correct. Charging millions of EVs, with power produced by coal, gas, nuclear. Even solar is not so clean - think of all the basic material required from all over the world. EV is a scam. The least able to pay pay the most.
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say the name, who gives you pain, who makes it rain, who owns the game $tsla