China's electric vehicle (EV) market is bracing for an intensified price war in 2024, driven by an oversupply and increasing competition among automakers. This situation was triggered by recent price reductions from major players like Li Auto and BYD. China's state planner has highlighted the arrival of over 110 new energy vehicle models this year, which is expected to further fuel the competitive environment.
WATCH: China's state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply and intensifying competition https://t.co/sgDGf82jqD https://t.co/X16ApTufAr
An electric vehicle price war may be on the horizon, China’s state planner has warned, as it reported over 110 new energy vehicle models coming in 2024, ramping up competition https://t.co/pfRycJFAQd https://t.co/kMADNoccTC
China's state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply and intensifying competition https://t.co/pfRycJG8FL https://t.co/HsDhCOPX5t
China's State Planner Warns of Intensified EV Price War Due to Oversupply https://t.co/DC16uV14sT via @timesofindia
Behind @Li_Auto_'s price reductions lies an intensifying competition in Chinese #EV market, which began since the beginning of 2024, following BYD's price reduction. https://t.co/t8vmnMnXzi