This is how the (mainland China) Chinese folks do business: monkey see monkey do, copycat one another, undercut one another in price until oblivion.

It's not just EVs, you can witness this in other industries too. Food, services, consumer goods etc.

It's still a centrally planned economy, with outrageous government subsidies to encourage dumping of exports and domestic market cannibalism.

Wonder, how will this affect Tesla sales in China? Those were not too hot even with the introduction of model Y refresh.