Latest news with #中国市场
South China Morning Post
11-06-2025
- Automotive
- South China Morning Post
How China's EV titans can end the industry's forever price war
China's electric vehicle (EV) industry has achieved resounding success, marking a triumph for Chinese industrial policy and entrepreneurship. However, the sector now stands at a critical turning point. In May, BYD shocked markets by slashing prices on 22 of its models, bringing the entry-level price of its popular Seagull model down to just 55,800 yuan (US$7,700). Competitors rushed to match these cuts, fuelling an unsustainable race to the bottom. Last year, BYD reportedly told suppliers to slash prices by 10 per cent. China's Ministry of Industry and Information Technology has cautioned that such ruthless competition would undermine long-term innovation and safety standards. 'There are no winners in a price war, let alone a future,' a ministry spokesperson told state media, marking a rare and blunt public rebuke. The underlying issue is stark: China's EV market is oversaturated. According to Jato Dynamics, there are now 115 Chinese EV brands vying for market share. However, after last financial year's third quarter, 25 per cent of firms were in the red. Additionally, over 50 per cent of firms have less than 0.1 per cent market share.
Bloomberg
05-06-2025
- Business
- Bloomberg
China Warns BYD, Rivals to Self-Regulate as Price War Heats Up
Chinese officials summoned the heads of major electric vehicle makers, including BYD Co., to Beijing earlier this week to address concerns about the long-running price war, according to people familiar with the matter. The meeting was hosted by the Ministry of Industry and Information Technology, the market regulator and the top economic planning agency, said the people, who asked not to be identified discussing private information. The gathering was attended by senior executives from more than a dozen manufacturers that also included Zhejiang Geely Holding Group Co. and Xiaomi Corp., the people said.
