BEIJING: A senior Chinese official has called for “rational competition” in the electric vehicle industry, emphasizing the need for stability in the fast-growing market.
Che Jun, head of a Communist Party central leading group, made the remarks during a meeting with industry representatives, including automakers BYD and BAIC Group.
The statement, released by China’s industry ministry, follows recent government pledges to regulate “irrational” pricing and market practices. China’s cabinet had earlier vowed to enhance price monitoring to prevent destabilizing competition.
“Major automakers should work together to ensure healthy market growth,“ Che Jun said. The meeting included officials from the Ministry of Industry and Information Technology, signaling stronger oversight in the EV sector.
China, the world’s largest EV market, has seen rapid expansion but also concerns over price wars and unsustainable competition.
The government’s latest move aims to balance innovation with market stability. – Reuters
