Global EV Price War Looms as US and China Compete for Market Dominance

📆 24/06/2024 6:37 a. m.
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Follow the competition in the global EV market as US and Chinese automakers engage in a price war, leading to potential job losses and market disruptions.

The electric vehicle market is heating up in the global arena with the US and China gearing up for yet another price war. While US car giants are slashing prices, China is negotiating hard to set up shop in Europe. In fact, the pending EV competition in Europe could mean job losses in the future.

International Energy Agency fossil fuel demand will peak Last year, US automaker General Motors launched its luxury electric Cadillac Lyriq in France, an expansion of its market in Europe after returning last year and a test of whether online-only sales will attract wealthy car buyers .

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