China's state planner warns of a price war among electric car and plug-in hybrid automakers due to oversupply and falling battery costs.
China's state planner warns of an intensified price war among electric car and plug-in hybrid automakers due to oversupply, falling battery costs, and economies of scale. Prices of EVs and plug-in hybrids in Shenzhen have dropped 5-10% this year, with BYD and Denza leading the price cuts. The National Development and Reform Commission expects over 110 new energy vehicle models among 150 new cars to be launched this year, driving competition.
April 22, 2024
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