China EV Market: Overcrowded with Entrepreneurs & Engineers
News Context
At a glance
- * china's EV Cost Advantage: Rivian CEO RJ scaringe believes chinese EVs are cheaper not due to technological advancements, but because of government subsidies and lower labor costs.He...
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* china’s EV Cost Advantage: Rivian CEO RJ scaringe believes chinese EVs are cheaper not due to technological advancements, but because of government subsidies and lower labor costs.He emphasizes it’s a result of “compounding benefits of a lower cost of capital.”
* Upcoming Consolidation in the Chinese EV Market: Xpeng CEO He Xiaopeng predicts a significant shakeout in the chinese EV industry between 2025 and 2027, calling it an “elimination round.”
* Few Survivors: He Xiaopeng further stated he believes only about seven major car companies will remain in the Chinese market within the next 10 years.