Chinese EV makers’ ‘do-or-die’ moment, Hyundai’s US$500 million investment: 7 EV reads

Unprofitable Chinese electric vehicle (EV) makers, ravaged by a discount war at home and higher tariffs abroad, are stepping up cost-cutting measures and new model launches as they strive to survive in the cutthroat market.

Malaysia has set its sights on becoming Southeast Asia’s hub for EV production, Prime Minister Anwar Ibrahim said as he welcomed a US$500 million investment by South Korean car giant Hyundai Motor to build a second assembly plant in the region.

Foreign carmakers are at risk of losing up to US$20 billion in profit annually in China, amid intensified competition with domestic producers and a market shift toward electric cars and smarter vehicles, UBS Investment Bank says.