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Toyota falters as Japan's EV hesitancy claims second victim in China
Toyota lays off workers amid China’s EV transition. It sold 3,844 bZ4X models in China through January, representing just 0.26% of China’s EV market. Its EV sales falling 9% in the first six months of the year.
According to the China Association of Automobile Association, Japanese automakers' market share in the region has fallen from 20% last year to 14.9% in the first half of 2023.
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