China shows signs of tackling price wars taking toll on its EV industry

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The Chinese government is signalling enough is enough when it comes to the fierce competition in the country’s electric car market.

China’s industrial policy has engineered a remarkable transformation to electric vehicles in what is the world’s largest auto market.

In so doing, it has spawned far more makers than can possibly survive. Now, long-simmering concerns about oversupply and debilitating price wars are coming to the fore, even as the headline sales numbers soar to new heights.

Market-leader BYD announced this week that its sales grew 31% in the…



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China shows signs of tackling price wars taking toll on its EV industry



The Chinese government is signalling enough is enough when it comes to the fierce competition in the country’s electric car market.

China’s industrial policy has engineered a remarkable transformation to electric vehicles in what is the world’s largest auto market.

In so doing, it has spawned far more makers than can possibly survive. Now, long-simmering concerns about oversupply and debilitating price wars are coming to the fore, even as the headline sales numbers soar to new heights.

Market-leader BYD announced this week that its sales grew 31% in the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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