China

EV makers risk running out of road in virus-stricken times

BYD
Even Warren Buffett-backed long-established EV maker BYD reported 85 percent profit drop in the first quarter due to the slide in sales caused by coronavirus.
KW
By:
KANE WU and YILEI SUN
R
By:
Reuters
|
May 12, 2020 01:11 PM

HONG KONG/BEIJING -- Challenged by the arrival of Tesla Inc. in China last year, domestic electric vehicle start-ups were struggling even before the economic shock wrought by the coronavirus, but now for some it has become a battle for survival.

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