Abnormal growth and fraud drove China’s EVs into “Zombie Cars”

China has been the world champion in electric vehicle production and sales for years. Chinese EV makers BYD, NIO, Li Auto, and XPeng have been sought after by the capital markets. The Chinese battery maker CATL is the biggest battery manufacturer for EVs in the world and the pride of Xi Jinping. However, the disconnect between production capacity and market demand, along with EV subsidy fraud, has resulted in an over-capacity problem and a growing number of “zombie cars.” 

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We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
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References:
https://nev.ofweek.com/2023-06/ART-71008-8420-30599402.html
https://www.aboluowang.com/2023/0706/1923532.html

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