Mar 31, 2023 06:14 AM

BUSINESS

Raging Price War Poses Survival Threat for Automakers

By An Limin and Han Wei

China’s auto industry consists of more than 80 passenger car manufacturers and more than 100 brands, including joint ventures involving nearly 10 multinationals

China’s auto industry consists of more than 80 passenger car manufacturers and more than 100 brands, including joint ventures involving nearly 10 multinationals

The raging price war poses survival challenges to automakers in China as it accelerates a major industry shift toward electrification and automated driving, experts said.

Tesla Inc. ignited the war late last year in the electric vehicle sphere, spurring archrival BYD Co. Ltd. to follow suit. The wave of price cutting escalated since March as it spread across the industry and dragged in makers of conventional fossil fuel cars.

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