Domestic carmakers are flooding the high-end segment in search of better margins, raising fears of overcapacity and a renewed price war
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The BYD booth at the 2026 Beijing auto show on April 25. Photo: IC photo
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Electric vehicle makers in China, led by the country's market leader BYD, have been engaged in a bruising price war.
Many carmakers have reduced discounts in response to Beijing’s directives, but they may cut prices again to maintain market share.
New models from carmakers including Nio and Seres also challenge Tesla’s bestselling Model Y and cars from luxury German marques.
