BYD executives predict a major reshuffle in China's new energy vehicle market

Recently, BYD Executive Vice President Li Ke stated at the Munich Motor Show that as irrational competition in China's new energy vehicle (NEV) industry is rectified, the Chinese auto market will face a major reshuffle, with approximately 100 automakers potentially eliminated in this fierce competition. Li Ke believes that even if only 20 companies remain, that would still be too many. Currently, there are 130 NEV manufacturers in China. With market growth slowing and electric vehicle prices falling, policy adjustments are bound to lead to a major reshuffle in the number of automakers.