"Right now, there is an incredible price war going on,"
"You can't have over 100 different OEMs in a country trying to compete, especially now that they're competing on price,"
"I would also say the market is over capacity in China, which is causing, from a business perspective, exporting to other markets, but they're also doing it while highly subsidized in many cases,"
"You have to look at what the sustainable business is because the situation that is there right now is not sustainable,"
China's EV market is experiencing an intense price war and overcapacity, with more than 100 OEMs competing and driving vehicle prices lower. Excess production has pushed manufacturers to export to other markets, often supported by heavy subsidies, which undermines sustainable profit models. Price discounting is eroding short-term profitability for major producers, with BYD reporting a year-over-year sales decline in September. Automakers entering or operating in China must balance compliance with Chinese regulatory and safety requirements while benchmarking local competitors. Continued oversupply and deep discounting create an unsustainable marketplace that threatens long-term business viability.
Read at Business Insider
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