China's automakers squeezed as materials suppliers rake in profits

AutomobilesLosses at EV makers like BAIC, Seres and GAC contrast with bright upstream pictureA GAC Honda GT electric vehicle is displayed at the Auto Shanghai motor show in April 2025. © ReutersKENJI KAWASEJuly 14, 2026 14:35 JSTTOKYO -- Rising materials costs are denting the bottom lines of price war-plagued Chinese electric vehicle makers while their suppliers are reaping big gains, the latest earnings guidance filings show.