Toyota and BMW are the latest casualties in China's evolving EV market
China's EV giants are rising, and it's putting foreign automakers under pressure in the world's largest car market.
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- Toyota and BMW both reported plunging profits on Wednesday.
- The Japanese and German automakers have faced falling sales in China.
- China's EV giants like BYD are squeezing out foreign automakers and increasingly expanding into the premium market.
China's EV giants are rising, putting foreign automakers...
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