Xpeng's CEO says an "elimination phase" could begin between 2025 and 2027, where competition will become more intense starting this year, causing some manufacturers to not survive and start exiting the industry. So, what should you know about it?
In addition, in the next decade, it is said that a number of manufacturers from China may no longer be in the market. Sharing further, the CEO of Xpeng said that out of the 300 startups, only about 50 companies are still operating today, and only about 40 are selling vehicles. In the next 10 years, it is expected that China will have only about 7 to 10 vehicle brands or companies.
Apart from the CEO of Xpeng, several other parties in the automotive industry also share the same view. Various existing vehicle companies themselves are facing challenges in adapting to the electric vehicle era, including big names such as Toyota, as well as Honda and Nissan who have just announced plans to merge their companies.
What are your thoughts on this news? Comment down below and stay tuned for more news like this at TechNave!
COMMENTS