The discount war in China's electric vehicle (EV) space is picking up pace, with leading players BYD and Xpeng slashing the prices of their bestselling models to cushion falling sales. More carmakers are expected to join the fray as they go all out to maintain market share, according to industry officials and analysts. Shenzhen-based BYD priced the basic edition of its refreshed Yuan Plus SUV at 119,800 yuan (US$16,642), 11.8 per cent less than the current version, the world's largest EV maker a
China EV makers BYD, Li Auto, Nio and XPeng on Friday reported that EV deliveries fell sharply in February for a second straight month. Most Chinese EV stocks rose. Li Auto stock returned to the buy zone.
Chinese electric-vehicle makers XPeng, Li Auto, and NIO deliver a combined 32,928 vehicles in February, down about 5% from a year earlier.