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On September 9, as reported by the Financial Times, executives from BYD have made a bold prediction. They anticipate that once the central steering group takes measures to tackle irrational competition within the new energy vehicle sector, China's auto industry will witness a significant shake-up, potentially leading to the elimination of around 100 automakers. At present, approximately 130 automakers in China are competing fiercely for a piece of the pie in the world's largest market for pure electric and plug-in hybrid vehicles. Li Ke, the Executive Vice President of BYD, expressed his view that even if the number of automakers were to dwindle to just 20, it would still be an overcrowded market. Meanwhile, consulting firm AlixPartners forecasts that by 2030, only 15 out of the 129 electric vehicle and hybrid vehicle brands will manage to sustain their financial viability.
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