Overseas market share and higher profit margins are driving a price war among car manufacturers in China, leading to a spread of the conflict to other nations as these companies seek to maintain their edge in the electric vehicle industry.

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Overseas market share and higher profit margins are driving a price war among car manufacturers in China, leading to a spread of the conflict to other nations as these companies seek to maintain their edge in the electric vehicle industry. - SCMP

Quick Summary:

In Southeast Asia, Chinese EV builders from established giants like BYD and Great Wall to start-ups such as Hozon are offering discounts in a bid to take on Japanese rivals whose petrol cars dominate the market.

Deloitte China said BYD had a 33 per cent share of the EV market in the Asean countries.

Hozon’s Neta V pure-electric car now sports a price tag of 549,000 baht, 30 per cent cheaper than BYD’s Dolphin electric sedan, while Changan’s Lumin EV is priced at 480,000 baht.