“China's Tesla” NIO slashes thousands of jobs as losses mount
China has around 25 electric car manufacturers not too unlike Detroit in its hay-day in 1920s. Sooner or later many will crash and burn and some merge to become bigger players. Long story short, industries with heavy CapEx sooner or later end up being handful of players.BYD buses and ABQ rapid transit saga is an interesting one. Most of the Chinese electrics are not up to the snuff and so Albuquerque decided not to order any new buses and send back the ones delivered.