Summary
- There are fields of abandoned electric cars from aging brands in China; many are wondering how they got there?
- The car-sharing industry in China, which many of these abandoned cars were used for, faced challenges due to tight margins, competition, and reduced subsidies, leading to many companies going out of business.
- China remains the largest market for both traditional and electric vehicles, with a strong EV manufacturing infrastructure and significant government support. The number of abandoned EVs is relatively small compared to the overall number of new car sales in the country.