While traffic restrictions are getting stricter with ZFE and environmental fines are also getting tougher, sale of electric cars keep climbing It must be said that the offer is also becoming larger, as new manufacturers appear on the European market. This is especially true for Chinese brands such as BYD, MG, Xpeng and Nio, which are trying to find a good place for themselves and attract customers from traditional manufacturers. But, of course, it is far from a long, quiet river, on the contrary.
There is an exception to the end of sales of diesel cars in 2035, voted by the European Parliament: luxury cars (Ferrari, etc.). Of course, there are not many of them, so the emissions will be limited, but for the symbol and social justice, it will be necessary to return pic.twitter.com/6gPS9lc6ZE
— Audrey Garric (@audreygarric) June 9, 2022
Shovel removal
Indeed, while some are doing very well, both MG and BYD on the verge of overtaking Tesla, this is not the case for all. We think, for example, of Nio, whose financial situation is not necessarily in good shape. The company has been in deficit for quite some time and is facing numerous difficulties. So much so that she leaves part with every tenth employee, and this is until the end of November. In an e-mail provided by the British news agency Reuters, management explains that “this is a difficult but necessary decision given the fierce competition.”
Strong competition
Indeed, the Chinese firm has to face rivals that are more motivated than ever, and sometimes a little better armed, such as Tesla. Thus, the company must increase its efficiency as well as its profitability while reducing its costs. That’s whyhe separates 10% of his employees. But that’s not all, as the firm will also reduce its investments in the long run. Projects that do not contribute to the achievement of results within three years will be postponed or canceled.
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Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.