Story
Why western carmakers' retreat from electric risks dooming them to irrelevance
Key takeaway
Western automakers are losing ground to China in the shift to electric vehicles, risking their future relevance as the world transitions to cleaner transportation.
Quick Explainer
This news article discusses how Western car manufacturers are pulling back from investing in electric vehicles (EVs) despite the rise of cheap and capable electric cars from Chinese brands like BYD and Leapmotor, which are rapidly gaining market share in Europe and the US.