China EV price war to worsen as market share takes priority over profit
China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.
Stay updated with breaking news from Brian Gu. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.
Thousands of car lovers and company representatives descended on Beijing this week for the Auto China show -- a chance for industry giants to show off new designs and cutting edge technologies aimed at getting ahead in the fiercely competitive sector
Chinese electric car start-ups Nio and Xpeng are turning to a lower-priced segment of the market with plans to release newly-branded cars this year.
The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that buyers in other markets have never seen.
Electric Car Market: Chinese consumers, especially younger ones, rank "technology luxury" as an important consideration, and Chinese automakers are taking the lead on such features, said Raymond Tsang, a Shanghai-based Bain & Company partner.