Tesla has reduced the price of its 830-km Model 3 in China by RMB 10,000 yuan ($1,400), less than one month after its August 12 launch.
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Category: Price Cut
BYD has reduced the price of its Qin L EV by RMB 10,000 ($1,400) and introduced a new variant equipped with the DiSus-C body control system.
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This is expected to enhance the appeal of Nio models and reduce complaints about their relatively low range.
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Nio has reduced the cost of its optional 100-kWh long-range battery pack by RMB 20,000 ($2,780), resulting in price cuts for all long-range versions of its current models.
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Chery is offering discounts on a number of models, with a combined discount of up to 47 percent after subsidies.
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Geely Galaxy has started offering limited-time discounts ranging from 8 percent to 18 percent on seven models.
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IM Motors and Leapmotor have started to offer new discounts on some of their models.
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BYD shares were down 6.53 percent in Hong Kong and 3.89 percent in Shenzhen at press time.
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Analysts believe BYD's price discounts could lead to further price competition in China and spark more rivals to follow suit.
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BYD is offering discounts on three models, in a move that appears to be aimed at clearing inventory of older models after launching Smart Driving Edition updates.
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