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== Profitability of Chinese EV Makers ==
== Profitability of Chinese EV Makers ==
* '''Out of the five top exclusive EV makers examined, only BYD and Li Auto are currently profitable.'''
* '''An April study by Goldman Sachs established that if BYD were to reduce prices of its vehicles by another 10,300 yuan per vehicle, profitability of China EV segment could turn negative'''<ref>https://www.scmp.com/business/china-business/article/3260527/china-ev-price-war-worsen-market-share-takes-priority-over-profit-hastening-demise-smaller-players?utm_source=twitter&utm_campaign=3260527&utm_medium=share_widget</ref>'''.'''


* According to AlixPartners<ref>https://www.bloomberg.com/news/articles/2024-07-11/less-than-20-chinese-ev-brands-to-be-profitable-by-decade-s-end</ref>, only 19 of the current 137 Chinese EV makers will be profitable by the end of 2030.
* According to AlixPartners<ref>https://www.bloomberg.com/news/articles/2024-07-11/less-than-20-chinese-ev-brands-to-be-profitable-by-decade-s-end</ref>, only 19 of the current 137 Chinese EV makers will be profitable by the end of 2030.
* Alixpartners expect further price wars as long as big players such as BYD still have gross margin.  
* Alixpartners expect further price wars as long as big players such as BYD still have gross margin.  
{| class="wikitable"
|+
! colspan="15" |Net Profit in million Euros of Chinese Top EV Makers<ref>https://docs.google.com/spreadsheets/d/1vqBHB96CsNl0Q2oZzQed-s-tktCupiXzpcznWiOS7VY/edit?gid=579636406#gid=579636406</ref>
|-
!Company
!2018
!2019
!Y/Y
!2020
!Y/Y
!2021
!Y/Y
!2022
!Y/Y
!Q1 2023
!2023
!Y/Y
!Q1 2024
!Y/Y
|-
|BYD (exclusively EV maker)
|452
|271
| -39.94%
|752
|177.16%
|551
| -26.65%
|2,409
|336.87%
|553
|3,981
|65.24%
|585
|5.68%
|-
|SAIC
|6,147
|4,517
| -26.52%
|3,649
| -19.23%
|4,718
|29.31%
|3,107
| -34.15%
|
|2,548
| -17.99%
|
|
|-
|Li Auto (exclusively EV maker)
| -195
| -312
|60.46%
| -19
| -93.91%
| -45
|134.84%
| -276
|519.36%
|125
|1,500
| -642.69%
|76
| -39.49%
|-
|Changan
|86
| -339
| -491.75%
|416
| -222.63%
|494
|18.83%
|1,061
|114.80%
|
|1,439
|35.64%
|
|
|-
|GWM
|661
|576
| -12.96%
|670
|
|935
|39.49%
|1,122
|20.03%
|
|892
| -20.53%
|
|
|-
|Geely
|1,610
|1,057
| -34.31%
|697
| -34.11%
|605
| -13.16%
|632
|4.52%
|
|627
| -0.89%
|
|
|-
|GAC
|1,390
|859
| -38.20%
|756
| -11.97%
|1,052
|39.11%
|1,075
|2.21%
|
|475
| -55.81%
|
|
|-
|Xpeng (exclusively EV maker)
| -178
| -473
|165.98%
| -342
| -27.74%
| -676
|97.94%
| -1,243
|83.87%
| -313
| -1,318
|6.02%
| -175
| -44.08%
|-
|Nio (exclusively EV maker)
| -1,224
| -1,446
|18.11%
| -663
| -54.15%
| -558
| -15.78%
| -1,963
|251.64%
| -635
| -2,631
|34.02%
| -664
|4.49%
|-
|Zeekr (exclusively EV maker)
|
|
|
|
|
|
|
|
|
| -330
|
|
| -259
| -21.64%
|}


== Reasons for the dominance of Chinese automakers in the EV industry ==
== Reasons for the dominance of Chinese automakers in the EV industry ==
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