Chinese Car Industry in a world of hurt! (Patreon)

The Chinese car company BYD and others are facing big problems, even though Western media might not report it. A local post explains issues in China’s auto industry, like delaying payments to suppliers and selling new cars as “used” to fake higher sales numbers. These tricks are common but are now causing trouble. Great Wall’s founder, Wei Jianjun, warned that some car companies are in debt and could collapse like China’s property sector. He criticized platforms like Dongchedi and Guazi for enabling these “zero-kilometer used car” scams. Regulators recently met with BYD, Dongfeng, and others to fix this mess and regulate used car exports. In early June, 17 major carmakers, including BYD and Xiaomi, promised to pay suppliers faster—within 60 days.

The Western auto industry is also struggling, and transportation is about to change dramatically. ICE cars are facing a severe hit.... as it is now almost redundant technology. China’s car industry might face a huge crash, similar to its property market.

Now we understand the huge pivot 2 years ago from ELON to try his best to push all efforts into ,,, electric autonomous vehicles aka Robotaxis