China's Tesla rivals are booming, with BYD, Nio, and Zeekr all breaking sales records.
Despite their success, many Chinese automakers continue to lose money.
Nio reported a widening net loss in its latest earnings, as the CEO of Xpeng warns many EV firms face a fight to survive.
China's Tesla rivals might be booming, but they're still losing money.
Nio, Zeekr, Xiaomi, and Xpeng have all broken personal sales records in recent months. Xpeng delivered 24,000 vehicles last month, and Xiaomi sold over 100,000 of its SU7 EV this year alone.
However, the booming sales come as many Chinese EV makers continue to report heavy losses, as they grapple with a brutal price war and intense pressure to quickly launch new affordable models amid a crowded field of battery-electric vehicles.
EV startup Nio, known for its battery-swapping stations and run by CEO William Li, sometimes dubbed "the Elon Musk of China,"
The company reported a net loss of $700ml, up 11% from the third quarter of
Despite their success, many Chinese automakers continue to lose money.
Nio reported a widening net loss in its latest earnings, as the CEO of Xpeng warns many EV firms face a fight to survive.
China's Tesla rivals might be booming, but they're still losing money.
Nio, Zeekr, Xiaomi, and Xpeng have all broken personal sales records in recent months. Xpeng delivered 24,000 vehicles last month, and Xiaomi sold over 100,000 of its SU7 EV this year alone.
However, the booming sales come as many Chinese EV makers continue to report heavy losses, as they grapple with a brutal price war and intense pressure to quickly launch new affordable models amid a crowded field of battery-electric vehicles.
EV startup Nio, known for its battery-swapping stations and run by CEO William Li, sometimes dubbed "the Elon Musk of China,"
The company reported a net loss of $700ml, up 11% from the third quarter of
8 months ago
