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Nissan, once a leader in the EV market with the Leaf, is now facing an "existential crisis" according to its CEO. The company has announced 9,000 job cuts and plans to sell back up to 10% of its stake in Mitsubishi Motors, indicating its struggles.

In contrast, BYD, the Chinese automaker, has seen its numbers improve, with a focus on both EVs and hybrids. However, the company's decision to pause its plans to enter the Canadian market due to a 100% federal tariff on EVs imported from China highlights the challenges of navigating global trade policies.

The Impact of the Chinese Market

The global automakers' struggles in the Chinese market have had a significant impact on their overall performance. Volkswagen, for example, has announced the closure of three plants and 20,000 job cuts due to its inability to maintain market share in China, where local manufacturers like BYD are gaining ground with affordable EVs and hybrids.

The Future of the Automotive Industry

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