Chinese EV Stocks Drop As Tesla’s Price Cuts Trigger New Round in China EV Price War
Tesla Inc.’s weekend move to slash prices across its range in China risks triggering a new round in the nation’s bruising price war, with Li Auto Inc. immediately responding with discounts and cash rebates on new models.Chinese EV stocks dropped in premarket trading Monday. Li Auto fell 5.7%; XPeng fell 2.6%; NIO fell 0.5%.Li Auto on Monday announced price cuts of about 6-7% across its lineup, with the L7 five-seat sport utility vehicle now starting from 301,800 yuan .People who have already ord