China shows signs of tackling the price wars that are taking a toll on its EV industry | Metals Mine

  • China shows signs of tackling the price wars that are taking a toll on its EV industry

    From bnnbloomberg.ca

    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 first six months of the year to 2.1 million cars. Nearly ... (full story)

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