Millions of New Cars Pile Up, Unsold for 5 Years, China’s Zombie Car Factories Keep Emerging

In recent years, with the rise of new electric vehicle factories in China, a significant number of existing ones previously focused on producing gasoline cars have seen a dramatic decrease in their capacity utilization rates. Some of these factories have fallen idle or even been sealed off, earning the moniker “zombie factories.” Analysts predict that China’s automotive market could see hundreds of such “zombie” car factories over the next decade. #chinaobserver