Part 4/8:
Meanwhile, the automotive industry is witnessing seismic shifts. In China alone, 169 electric vehicle (EV) manufacturers are in operation, over half of which command less than 0.1% of the market share. This condition suggests a frantic state in the industry reminiscent of the U.S. auto sector's early years, where competition was rife but many companies failed to survive. Given the saturation of the market and the ongoing price cuts among major manufacturers—such as BYD reducing vehicle prices significantly—many companies are positioned precariously.