New Round of Price War Looms Large in Chinese New Energy Vehicle Market, Following Footsteps of Gasoline Cars

After the crazy price war in Chinese gasoline vehicle market, the new energy vehicle market is also showing signs of price cuts. A number of new energy vehicle brands have launched similar discounts, and unlike the gasoline vehicle price war in March, which was ambiguous in terms of price cuts and sales promotions, several new energy vehicle brands have clearly announced the specific amount of discounts for related models.

It is widely expected that a large number of new energy vehicles will join the price cuts under the background of a sharp drop in the cost of battery raw materials and a slowdown in demand growth in the auto market.

The technology of new energy vehicles is changing rapidly. The competitiveness of old models is bound to decline, and inventory must be digested through price cuts.