China Advocates Fair Play in Electric Vehicle Market

Three Chinese government departments held a meeting with new energy vehicle companies to encourage healthy competition in the electric vehicle market. Representatives from 17 major automakers participated, and the departments pledged to enhance monitoring and law enforcement to ensure the sector's healthy development.

In an effort to maintain fair competition in its burgeoning electric vehicle market, three Chinese government departments convened with new energy vehicle companies on Wednesday. The symposium aimed to dissuade firms from engaging in disorderly price wars.

Key representatives from 17 significant automakers attended the gathering organized by China's industry ministry, state planner, and market regulator. The collaborative meeting underscored the importance of creating a balanced and competitive environment.

The authorities committed to intensifying their monitoring efforts and strengthening law enforcement to foster the sector's growth, the industry ministry revealed in a statement.

(With inputs from agencies.)