New Chinese electric cars will lead to price war, inquiry is told

13 August 2024, 8:00 am

The Other Dimension
New Chinese electric cars will lead to price war, inquiry is told
Image: Drive
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New Chinese electric cars will lead to price war, inquiry is told
Image: Drive

AutoExec Summary
Australia’s inquiry into the electric vehicle transition has revealed that the EV price war has already started, with car manufacturers like MG, BYD, and GWM reducing prices for their electric vehicles. The committee of MPs anticipates more competition as new Chinese brands enter the market, driving prices down further. The Federal House of Representatives’ Standing Committee on Climate Change, Energy, Environment, and Water heard that heavy discounting on electric vehicles is likely to become more widespread in the next 12 months. With new brands like Zeekr, Smart, Xpeng, and others coming to Australia, the competition is expected to intensify, leading to more aggressive price cuts.

Brands mentioned: MG, BYD, GWM, Tesla, Zeekr, Smart, Jaecoo, Xpeng, Leapmotor, Skywell, GAC, Aion, Jetour, Changan Deepal, Geely, Lynk & Co, Nio, Mercedes

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