EVsThe Next Webabout 3 hours ago
BMW cuts profit forecast as China EV rivals squeeze Europe
1 min read
BMW cut its car division's expected operating margin to 1-3 percent, down from 4-6 percent, citing a decline in China and Middle East fallout. Chinese EV makers like BYD, Xiaomi, and NIO are undercutting European premium pricing in China while gaining nearly 10 percent market share in Europe.
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