Source: Tech – South China Morning PostChinese makers of smart electric vehicles (EV) will have to redouble their efforts over the next few quarters to stay on track to break even as the brutal discount war in the world’s largest vehicle market shows few signs of abating.
From Nio to Xpeng and Zeekr, China’s EV start-ups have been reporting smaller losses in the second quarter, as discounts helped to encourage more buyers to ditch their oil-guzzling vehicles for battery-driven cars.
Nio’s second-quarter loss narrowed by 26 per cent…Read More