Tech
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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