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 war
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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Luxeed is offering consumers who buy its cars before July 31 a cash discount of RMB 20,000 ($2,790), becoming the latest participant in China's auto price war.
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BYD has slowed production and expansion in recent months, reducing shifts at some of its Chinese factories and delaying plans for new production lines, Reuters reported.
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BYD's Stella Li said China's EV price war is unsustainable and explains why the company cut prices.
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Tesla is offering Chinese customers who purchase its cars through referral program a discount of RMB 8,000 ($1,110) on optional body paint in June.
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The disorderly price war has intensified vicious competition and will further squeeze corporate profit margins, CAAM warned.
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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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