China EV Price War: Tesla Triggers Brutal Battle As Growth Plans … – Investor’s Business Daily
The China EV price war has reached a fever pitch — kicked off by Tesla — with the mass market for electric vehicles the new battlefront in the world’s largest and fastest-growing market for electric vehicles.
Chinese EV and battery giant BYD (BYDDF) is the mass-market juggernaut, but Tesla (TSLA) has thundered into this segment after slashing prices, threatening EV startups like XPeng (XPEV) and scores of domestic players jostling for position.
Even premium EV makers Nio (NIO) and Li Auto (LI) eye mass-market forays, with an idea to increase volumes with more affordable models and quicken their quest for profits.
The world’s largest EV market is set to grow even more competitive, spilling over into Europe and the rest of Asia, as China exports excess supply into those regions. China’s price war will hit profit margins for some EV makers while others accept deeper losses to maintain sales. Ultimately, Wall Street expects a survival-of-the-fittest shakeout, leaving a few dominant…
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source: https://news.oneseocompany.com/2023/03/09/china-ev-price-war-tesla-triggers-brutal-battle-as-growth-plans-investors-business-daily_2023030941730.html
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