Page 9 - Peng News Today

Slowing growth, intensifying competition and a bruising price war will pile pressure on the 200-plus Chinese EV makers this year, with some underachieving players likely to buckle and fold.

Chinese carmaker BYD (BYDDF) has emerged as the world's largest carmaker, with sales for the fiscal year 2023 surpassing 3 million units. This achievement places BYD ahead of its main rival Tesla, as well as other domestic carmakers such as Li Auto, XPeng, and Nio.

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New EV models with advanced features are piling the pressure on the laggards in China’s car market, the world’s biggest, where around 200 manufacturers could renew a price war in the coming months in a bid to survive.

Since August, Emma Li has sent 300 job applications to companies in China. She has had four interviews. The 26-year-old, who will graduate from one of the top business schools in Europe next year, has struggled to find a job that meets her expectations during the “golden fall” recruitment period in Chi

Those who travelled from China to study have faced unique challenges in winning a quality job, in their temporary places of residence along with their homeland. A number of factors are to blame.

The Guangzhou-based company said the starting price of the G6 will be lowered by 10,000 yuan (US$1,400) to 199,900 yuan, and the discount will be effective until the end of this month.

China’s official unemployment rate has remained stable over the past few months, but suspended production and long unpaid leave has been reported in some manufacturing sectors.

BYD said it is actively seeking to tap overseas markets and that its global expansion will pick up after sales stagnated at about 302,000 units in the past two months.