Over 100 car models have initiated price reductions, and energy storage system bidding prices keep hitting new lows, as disorderly price wars and homogenized competition have become prominent signs.
It is necessary to deepen market-oriented factor allocation reforms.
China has prioritized measures to address "rat race" competition in order to resolve economic contradictions and promote enterprise innovation.
There is an urgent need.
Economic law requires eliminating "rat race" competition.
Competition can be either constructive or unfair.
Competition weakens industry competitiveness.
China's new-energy vehicle sector has led global production and sales for a decade, contributing significantly to global carbon neutrality.
The industry's global competitiveness may be undermined by excessive focus on price wars.
Second is "rat race" competition.
China's auto parts industry saw a drop in profit margins and a rise in liabilities in the year 2024.
Some firms' behaviors resulted in inferior products that were hard to find.
The domestic economic cycle is hampered by "rat race" competition.
Strong innovation, demand responsiveness, brand influence and product quality are required for high-quality development.

Source prnewswire