Struggling Chinese EV brands go global to flee brutal price war at home
Struggling Chinese EV brands go global to flee brutal price war at home
restofworld.org
Struggling Chinese EV brands go global to flee brutal price war at home
- As domestic competition intensifies, more Chinese EV makers are expanding abroad.
- Thailand’s consumer watchdog is investigating Neta Auto after a surge in complaints.
- Neta’s struggles highlight the risks of China’s EV price war affecting global consumers.
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In China, it’s not uncommon for EV buyers to lose after-sales support when companies fold amid the ongoing price war. ... The fallout is now spilling overseas, threatening the reputation of Chinese automakers. More than 30 Chinese EV brands were actively expanding abroad last year — many before turning a profit at home.
Last month, Neta’s parent company, Hozon New Energy Automobile, confirmed it had entered bankruptcy restructuring in China. Earlier that month, viral videos showed employees staging a sit-in over unpaid wages.
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