Chinese official Che Jun called for “rational competition” in the electric vehicle industry, following the government’s pledge to regulate “irrational” competition and monitor prices. The meeting included representatives from automakers BYD and BAIC Group. Authorities in China aim to curb excessive competition in the auto industry, labeling it as “irrational.” A separate meeting was held with 17 key auto enterprises, industry association, and local officials to discuss the EV industry’s development. The push for cooperation and regulation highlights China’s efforts to streamline the electric vehicle market.

Read more at Yahoo Finance: Chinese automakers should pursue ‘rational competition’ in EV industry, official says