Job Change x Trend News] EVs Getting Cheaper? News summary of price reductions by Chinese manufacturers

Here you will find trending news topics in the automotive and mobility markets around the world.

We carefully select interesting news in the automotive industry, both domestic and international, and translate and summarize the contents for your reference. We hope you will find it useful in catching up with the latest news in the industry.

Chinese Company to Cut LiDAR Prices in Half, Expecting Increased Use in EVs

Nov 27, 2024 by Reuters

Chinese LiDAR company Ho Sai Technology has announced plans to cut the price of its flagship product in half next year.

According to CEO David Lee, the price reduction is expected to increase the installation of LiDAR in low-cost EVs, increasing the current 24% EV installation rate to 40%.

LiDAR uses laser light to generate 3D images and is an important safety technology for automated driving. The company expects its next-generation LiDAR, ATX, to sell for less than $200 and become a standard feature like airbags in the future.

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China’s BYD asks suppliers to lower prices = report

Nov 28, 2024 By Reuters

It was reported that BYD, the Chinese electric vehicle manufacturer, has asked its suppliers to reduce prices by 10% starting next January 1.

Li Yunfei explained that this is a common practice in the auto industry and is negotiable and not mandatory.

This move is an extension of the price reduction competition that Tesla began last year, and indicates that BYD is participating in a fierce price war.

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Price-cutting Competition among Chinese Companies” Intensifies in Thai Auto Market

Nov 7, 2024 By Toyo Keizai Online

Chinese manufacturers are engaged in a fierce price-cutting competition in the Thai auto market.

BYD and Great Wall Motor are seeking to expand market share by significantly reducing the prices of EVs and conventional vehicles, but with limited effect; EV sales in the first half of 2024 are lower than expected, and the slowdown in the Thai economy and high household debt are restraining market growth.

As a result, Chinese manufacturers are struggling in a growth market they had hoped for, and their price-cutting strategy appears to be self-defeating. Japanese manufacturers have similarly experienced a sharp decline in sales volume, and the Thai auto market is in a difficult situation.

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