This article only represents the author's own views.
The classic line “It was the best of times. It was the worst of times,” from Charles Dickens’ “Tale of Two Cities” rings especially true for Chinese new energy vehicle (NEV) makers these days.
The “best of times” comes from the breakneck adoption of NEVs, especially in China, which has become a powerhouse for global NEV sales thanks partly to strong government backing for the green energy transition. Meantime, the “worst of times” comes from the cutthroat competition that has turned the sector into a bloody battlefield filled with companies hemorrhaging billions of dollars in the fight for market share.
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