Chinese government looks set to regulate its electric car industry
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Chinese government looks set to regulate its electric car industry
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Reports out of China indicate the Chinese Government is about to
intervene in the country’s continuing electric car price war – the news
comes as a number of state-owned car makers, particularly GAC and JAC,
are struggling under price pressure, particularly from BYD. As I’ve reported
before thousands of dollars has been slashed off the price of popular
models as Chinese car makers try to gain as much market share as
possible. GWM and Geely executives have already warned of the dire
consequences of the price war with BYD, claiming Chinese cars are too
cheap and unsustainable, and coupled with overproduction, making for an
unhealthy market. GWM’s Chairman, Wei Jianjun, has warned of a potential
industry collapse stating “if it continues like this, the safety of China’s auto
industry will be seriously threatened.”
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