China’s Electric Vehicle Boom Turns Into Brutal Price War as Carmakers Fight for Survival
What began as a government-fueled electric vehicle (EV) boom in China has spiraled into a fierce battle for survival, leaving bankrupt startups, suppliers under pressure, and the world’s largest EV market in turmoil. For Li Hongxing, a veteran marketing professional, the dream of riding the EV wave turned into financial ruin. Earlier this year, Li…