Is China’s EV Market Doomed? Units in Stock! Foxconn Charges Into EVs, Buffett Unpluges BYD

Since last year, this figure has surged a staggering million units. This, alone, is a wakeup call to the industry. Let’s delve deeper and examine the case of the industry titan, BYD. In the grand panorama of 2022, they produced close to 1.8 million vehicles. However, the number of insured vehicles falls short at million, quietly spelling out the fate of over 210,000 vehicles — accumulating dust in warehouses. If that doesn’t raise eyebrows, consider this: in the first quarter of this year, BYD has reported an insured volume of 441,000 units. However, their production report from January to March shows nearly 548,000 units. This suggests an additional accumulation of more than 100,000 vehicles into the already bulging inventory. #chinaevcar #evmarket #byd #chinaobserver All rights reserved.