Shares of Chinese electric vehicle manufacturers tumbled as BYD’s recent price adjustments sparked concerns of a potential ‘rat race’ price war in the industry.
BYD, the Chinese electric vehicle giant, has launched advanced autonomous driving features on a wide range of its models, including some priced as low as $9,555, signaling a new price war in the competitive EV market.
China’s electric vehicle price war is leaving some drivers stranded. As smaller companies collapse, owners find their high-tech cars becoming obsolete.
