Chinese EV makers Nio & Xpeng face prolonged payment cycles, causing supplier stress and potential consolidation issues in China's auto industry.

Chinese electric vehicle (EV) makers Nio & Xpeng face prolonged payment cycles, with suppliers experiencing delays, indicating stress in China's auto industry. Economic slowdown and reduced consumer demand for EVs have led to price wars, slim profit margins, and delayed payments. Delayed payments may lead to a "messy consolidation" among auto-parts suppliers, causing potential bankruptcies and production issues for automakers.