China is ground zero for the price war in electric vehicles and the battleground is shifting to SUV-styled EVs, the largest segment of the market, dominated by Tesla Inc and BYD .
The market, crowded with more than 90 models, is about to get even tighter with at least 20 new models of both Chinese and foreign brands launched in April, squeezing pricing and margins at home and driving exports, analysts and executives said.
EV makers in China have followed Tesla’s bold price cuts by lowering prices for their own electric SUVs, cannabalising sales of internal combustion engine (ICE) vehicles as the price gap between the technologies narrows, analysts said.
