Reported about 1 year ago
Geely's chairman, Li Shufu, commented on the intense price wars in China's automotive industry, stating that it could lead to cutting corners and substandard practices. He noted that while market competition could be positive, an endless cycle of aggressive pricing could harm the industry. Li also expressed concerns about the rapid development of electric vehicles compared to traditional internal combustion engine cars, highlighting challenges such as safety testing and infrastructure. The article discusses how price competition, particularly in the new energy vehicle segment, has intensified, impacting the overall financial health of the industry.
Source: YAHOO