China's state planner warns intensified EV price war on oversupply

ETtech.com— China's state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply, among other issues, the government body said in a statement on Monday. The National Development and Reform Commission (NDRC) expected more than 110 new energy vehicle models among a total of 150 new cars launched this year, intensifying competition. NDRC also estimated the market demand for new energy vehicles, including EVs and plug-in hybrids, to...

Fortune—U.S. Secretary of State buys Taylor Swift album in China to wrap up key visit after warning on EV overproduction, Russia. Antony Blinken stopped at a Beijing record store where he bought albums by Taylor Swift and Chinese rocker Dou Wei in a symbolic nod to cross-cultural exchanges.

BBC News—Tesla China rival BYD sees profits slump due to EV price war. Car maker takes a hit from weakening demand and price war in the world's largest electric vehicle market.

Yahoo Finance—Prices of EVs, plug-in hybrids fall in Chinese city of Shenzhen, state planner says. China's state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply, among other issues, the government body said in a statement on Monday. The National Development and Reform Commission (NDRC) expected more than 110 new energy vehicle models among a total of 150 new cars launched this year, intensifying competition. NDRC also estimated the market demand for new energy vehicles, including EVs and plug-in hybrids,...