China’s Slow Auto Sales Spurs Race To Cut EV Prices

The shift towards electrification has been gaining momentum in recent years, with governments around the world setting ambitious targets for reducing emissions from traditional internal combustion engine vehicles. China, being the world's largest automobile market, has been at the forefront of this transition.

However, despite the considerable growth in China's electric vehicle (EV) market, retail auto sales have not seen the same increase in demand. As a result, many major car manufacturers are turning to a new strategy in an attempt to boost…