Li’s comments come at a time when China’s EV sales start to slow amid potential recession worries, growing competition, and supply chain disruptions due to frequent Covid comebacks.
Xpeng, Li Auto, and Nio are downsizing as rising costs of raw materials and supply chain disruptions cut into profit margins.
Chinese EV sales reported robust figures in January. Tesla ended 2021 with a solid profit performance. CATL retained its competitive lead.