China’s Pandemic-Related Restrictions Are Hurting EV Sector, Says Automaker

The containment measures put in place by the Chinese government have had a significant effect on its electric vehicle (“EV”) sector. According to Freeman Shen, CEO of WM Motor, his company has had to shoulder an increased cost of production while dealing with battery and chip shortages and supply chain issues. Despite the industry evolving quickly, he stated that production costs were the biggest challenge.

Interest in both hybrid-powered and battery-only energy vehicles in China has grown over the years. With sales of more than 3.3 million units in 2021, the country became the largest market for electric vehicles in the world. Shen expects that in 2022 the total sale of electric cars in China will reach 5 million units. His company WM Motor reportedly delivered 15,114 vehicles in the last quarter of 2021. This brings the total tally of deliveries to 88,686 since…

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