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Foreign automakers are struggling to maintain their market share in China's rapidly evolving electric vehicle sector, with many facing declining revenues and increased competition from domestic brands like BYD and Geely. Analysts suggest that partnerships with local companies are essential for survival, as traditional fossil fuel-based manufacturers adapt to a market where new energy vehicles dominate. Despite the challenges, foreign firms are investing in joint ventures and advanced technologies to remain competitive, though the landscape remains fiercely competitive.
Jing Yang
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
foreign automakers face challenges in adapting to chinas electric vehicle market
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06:04 22.11.2024
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