PRICE WAR FEARS GRIP CHINA’S EV MARKET AFTER WOEFUL JULY SALES FIGURES

The bearish sentiment surrounding China’s electric vehicle (EV) sector has intensified after three premium carmakers reported weak sales for July, further heightening concerns that the market is heading for another… EV makers Xpeng, Nio and Li Auto all reported month-on-month sales declines last month, as demand for intelligent cars weakened amid an economic slowdown in mainland China.

News - South China Morning Post reports that the bearish sentiment surrounding China’s electric vehicle (EV) sector has intensified after three premium carmakers reported weak sales for July, further heightening concerns that the market is heading for another…

The report adds: EV makers Xpeng, Nio and Li Auto all reported month-on-month sales declines last month, as demand for intelligent cars weakened amid an economic slowdown in mainland China.

Xpeng delivered 38,027 vehicles to customers in July, down 5.2 per cent from June, as the...

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