EV price was to intensify on oversupply, says China's state planner

EV price was to intensify on oversupply, says China's state planner

The BYD EV cars are displayed at the 45th Bangkok International Motor Show in Bangkok, Thailand, March 25, 2024. REUTERS/Chalinee Thirasupa/File Photo

China’s state planner expects an intensified price war among automakers of electric cars and plug-in hybrids this year because of overhanging supply, among other issues, the government body said in a statement on Monday.