Chinese EV brand Geely Galaxy announces promotional offers of up to 18 percent on its affordable models. These come a few days after BYD began offering discounts, making analysts predict another price war.https://www.notebookcheck.net/Another-Chinese-EV-maker-announces-discounts-after-BYD-sparked-price-war.1024570.0.html
Wonder, how will this affect Tesla sales in China? Those were not too hot even with the introduction of model Y refresh.
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.