China EV price war to worsen as market share takes priority over profit

China EV price war to worsen as market share takes priority over profit, hastening demise of smaller players - The three-month discount war has seen prices of 50 models across a range of brands dropping by an average of 10 per cent - Goldman Sachs said in a report last week that the automotive industry’s profitability could turn negative this year Falling prices could inflict heavy losses and force a wave of closures, triggering an industry-wide consolidation that only those …