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Fear of cheap Chinese EVs spurs automaker dash for affordable cars
(www.reuters.com)
This is a most excellent place for technology news and articles.
a comment in the article you linked says this better than I ever could:
The article also talks about BYD, a more established manufacturer than Nio, that is making profits selling electric cars.
just google chinese ev car graveyard https://i.imgur.com/vjtkj6J.png
not only are they selling at a loss, most of the sales aren't even real