Part 5/10:
The competition in China's EV market is fierce, with competitors like BYD, Nio, and Xpeng aggressively driving down prices and fortifying their technological prowess. For instance, the Xpeng P7 offers state-of-the-art technology at a fraction of the cost of its competitors, triggering a significant “EV price bloodbath” that is inducing companies to enhance their offerings at unprecedented rates.