- Tesla rolled out a new round of price cuts in China, sending auto stocks tumbling on concerns the move will respark a bruising price war that had showed signs of abating.
The cuts follow the likes of Geely Automobile Holdings’ Zeekr brand, which lowered prices as much as 37,000 yuan last week. Zhejiang Leapmotor Technologies cut by as much as 20,000 yuan at the start of the month.further discounts in January that left Tesla’s locally made cars as much as 14 per cent cheaper
China’s best-selling auto brand BYD sank 7.6 per cent as of 11.40am in Hong Kong trading. Li Auto was down 3.9 per cent lower, Xpeng fell 6.2 per cent and Leapmotor Technologies was off 6.4 per cent.
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