Around 90% of Chinese carmakers are losing money – Chery boss

Chinese carmakers are facing a bleak outlook, with nearly 90% of major players operating at a loss, according to Chery International president Zhang Guibing. Industry experts predict that only 7 of the current 30 Chinese electric vehicle OEMs will break even by 2030, leading to accelerated consolidation as weaker companies exit or are acquired. However, Chery's resilience, with a profitable operation and plans to expand its export business, may provide a lifeline, alleviating some looming R&D costs and helping the company navigate the industry's challenges.