Friday, April 19, 2024

Chinese brand warns of war that could mean the death of several cars

Xpeng's chief executive, He Xiaopeng, is now warning of a price war so fierce that it could mean the death of several car brands.

China's communist government wants the country's car brands to adjust. If necessary with compulsion, it says.

In this way, the supply of electric cars must correspond to demand. But now the car brands are also warning of a price war, which can quite 'naturally' weed out in numbers.

– This year marks the start of a fierce competition that could end in a 'bloodbath' – or as I prefer to call it, the brutal 'knockout round' among Chinese car manufacturers, writes Xpeng director and founder He Xiaopeng in a press release.

However, the CEO has given the same message to his employees in an internal memo. This is written by the American media CNBC .

READ ALSO: Tesla owners close Danish workshop – there is nothing to do

However, it is not only Xpeng's chief executive who may have read the writing on the wall. Market analysts at home see the same trends.

– Of the electric car start-ups that have fallen by more than 75 per cent, there are of course big gains to be made if they get sales going, but many will disappear.

– If we are talking in three years, there is probably a significant part of them that no longer exist, industry analyst René Tonder said already in January in an interview with Borsen.

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