Haipeng has shut down six dealerships selling foreign-branded internal combustion engine (ICE) cars and added 27 local EV brand stores to its sales network over the past three years. The group saw profits generated by its ICE car business drop 20 per cent in 2023 compared with the previous year, while its EV revenues more than doubled.…

This data comes from the ChinaPulse.com media intelligence and smart news insights monitoring platform.