💨 Abstract

The Chinese government is concerned about the intense competition and price wars in the country's electric vehicle (EV) market, which has seen rapid growth but also concerns about oversupply. BYD, the market leader, recently cut prices, sparking criticism from competitors and regulators. The government and industry associations are calling for fair competition and healthy development, warning against "involution" — destructive, meaningless competition.

Courtesy: WTOP Staff