China Vows to Address ‘Irrational Competition’ in EV Sector

China pledged to rein in “irrational competition” in its electric vehicle sector, reflecting authorities’ increasing urgency to tackle deflationary price wars threatening economic and industrial growth.

The vow came in a State Council meeting Wednesday that was chaired by Premier Li Qiang, according to a readout published by Xinhua News Agency. The gathering of what is essentially China’s cabinet pledged to effectively regulate market order in the industry and guide companies to boost competitiveness through innovation and better product quality.