The world’s largest electric car maker says it regularly asks major suppliers to cut prices as part of annual negotiations
1 hour ago
- BYD insists that price reduction requests are negotiable and not mandatory.
- China’s leading electric car maker is on track to sell 4 million vehicles this year.
- As China’s electric vehicle price war continues to intensify, smaller automakers are struggling to survive.
The consequences of China’s electric vehicle price war
China’s electric vehicle price war has been raging for the past two years, forcing smaller automakers out of the market and pushing other automakers to consolidate. The battle has also spurred collaboration between Chinese and Western automakers, as seen in Volkswagen’s recent tie-up with Xpeng Motors. Increased competition has kept prices lower for consumers but also increased pressure on automakers to find new ways to cut costs and stay afloat.
Tesla and competitors react
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