While Chinese-built EVs are seeing an uptick in global sales, particularly in Europe, the home market has grown concerned that oversupply has become a massive issue. China’s government has reportedly asked the automotive sector to stop lowering prices.
The domestic vehicle war has apparently reached a point that China is in the process of amending national economic laws to stabilize supply and demand.
"The draft amendment, particularly the improvement of criteria for identifying unfair pricing behaviors such as low-price dumping, will help better protect the legitimate rights of consumers and businesses, and promote healthy economic development," Guo Liyan, deputy director of the Chinese Academy of Macroeconomic Research's Economic Research Institute, told the government-owned China Daily.
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