China's Electric Vehicle (EV) industry is facing a severe downturn, with sales plummeting by a staggering 38 percent in recent months. The crisis has sent shockwaves through the sector, with two of China's biggest EV players, BYD and Geely, scrambling to respond. As they grapple with declining domestic demand, the companies are turning to innovative solutions to stay afloat, including the development of ultrafast-charging batteries and the introduction of robotaxis. Furthermore, BYD and Geely are also looking to capitalize on growing global demand by doubling their exports to overseas markets, in a bid to escape the slump in their home market.
China's EV giants face a domestic crisis as sales drop 38 percent. BYD and Geely respond with ultrafast-charging batteries and robotaxis while doubling overseas exports to escape home-market slump.
