"Hengchi, an electric-vehicle (EV) maker owned by Evergrande, a failed property developer, told investors that two of its subsidiaries had been forced into bankruptcy." Being connected with this "Ever" group is always bad news!
It is unlikely the dwindling group of successful EV companies will buy failing brands, which would involve taking responsibility for legacy customers who can no longer get the software updates needed to keep their cars functioning.
Despite friends working in 'green' industries, I don't know a single person who drives an EV. Yet, I hear that this is one of the many issues. Not only software, but parts, batteries, etc. Shipping EVs that have little after-sales is not going to be a good investment. Even if you want people to take on debt and buy them at 0% APR. It's a total scam.
True. Diesel is a fraction cheaper, I think. A lot of vans that run on diesel, maybe for trade etc. Must be the Bitcoin/opensource ethos growing in me, if I can't repair something, just seems like a high-time preference bad deal to me.
Chinese manufacturers are facing financial struggles due to several key factors:
Overcapacity and Weak Domestic Sales: Excessive investment has led to overcapacity, while domestic sales remain weak, affecting profitability[1][2].
Trade Barriers: International trade barriers have further depressed profits[1].
Rising Costs: Increased labor costs and soaring producer prices have made it difficult for manufacturers to absorb expenses, leading to higher consumer prices[3][4].
Government Policies: Unpredictable government actions and policies, such as the "Zero COVID" policy, have disrupted manufacturing operations[3][4].
Global Competition: Intense global competition, especially in sectors like electric vehicles, has limited market growth[2].
These issues are contributing to the struggles faced by many manufacturers in China, leading to a complex situation in the global manufacturing landscape.
"Hengchi, an electric-vehicle (EV) maker owned by Evergrande, a failed property developer, told investors that two of its subsidiaries had been forced into bankruptcy."
Being connected with this "Ever" group is always bad news!
Or electric vehicle
I cant say electric vehicles are bad.
It works for some people.
I like my gas engine, even when it smokes from burning oil.
Chinese manufacturers are falling only because they filled the global markets with unnecessary supply.
Facts
You need facts?
No I don't
Despite friends working in 'green' industries, I don't know a single person who drives an EV. Yet, I hear that this is one of the many issues. Not only software, but parts, batteries, etc.
Shipping EVs that have little after-sales is not going to be a good investment. Even if you want people to take on debt and buy them at 0% APR. It's a total scam.
I actually know a few in California but California is weird.
I was surprised to hear that diesel is popular in Europe
True. Diesel is a fraction cheaper, I think. A lot of vans that run on diesel, maybe for trade etc.
Must be the Bitcoin/opensource ethos growing in me, if I can't repair something, just seems like a high-time preference bad deal to me.
https://m.stacker.news/45621
I asked perplexity AI
Chinese manufacturers are facing financial struggles due to several key factors:
Sources
[1] Feared in the West, China's Manufacturers Struggle at Home - WSJ https://www.wsj.com/world/china/feared-in-the-west-chinas-manufacturers-struggle-at-home-8a64f2c3
[2] China's manufacturers are going broke - The Economist https://www.economist.com/business/2024/08/08/chinas-manufacturers-are-going-broke
[3] Why Chinese Manufacturing Is Faltering - TACNA https://tacna.net/why-chinese-manufacturing-is-faltering/
[4] China's Major Manufacturing Crisis - Why Companies Are Fleeing ... https://www.linkedin.com/pulse/chinas-major-manufacturing-crisis-why-companies-fleeing-munjal-n4udf
[5] How to Know When Your China Manufacturer is Going Bankrupt https://harris-sliwoski.com/chinalawblog/how-to-know-when-your-china-manufacturer-is-going-bankrupt/
I find it surprising how a world power like China is going through this? What caused it?
These issues are contributing to the struggles faced by many manufacturers in China, leading to a complex situation in the global manufacturing landscape.