With a flood of new money supercharging the industry, third-tier EV makers are emerging as powerful forces.
Xpeng, Li Auto, and Nio are downsizing as rising costs of raw materials and supply chain disruptions cut into profit margins.
Xiaomi is pouring billions of RMB into the auto sector and placing some big bets on multiple startups to build a complete auto supply chain.
We round up the most significant milestones in the three auto companies’ turbulent history this year and what’s next for them in 2022.
Chinese EV sales reported robust figures in January. Tesla ended 2021 with a solid profit performance. CATL retained its competitive lead.
There could be more consequences to come as Nio is in advanced plans to enter the competitive mass auto market.
Automakers in China is struggling to regain the momentum lost during a citywide lockdown in Shanghai that began in late March.
Nickel price surge could further increase the cost of electric vehicles and force automakers to cut earnings forecasts.
Huawei burrowed further into the auto industry with the launch of the first vehicle with its homegrown operating system.
While Chinese companies won’t be the first to deliver road-ready lidar systems, they could be the first to do it at a practical price.