SAIC Motor

Beijing is switching its attention to newer sectors such as AI and robotics

The country is the world’s third-largest car market

The minimum pricing will need to be flexible in order to accommodate different model types and vehicle categories

The steep cuts have fuelled a sales surge of over 20% in October and November

BYD in particular has rapidly built its sales network, with a focus on the UK

Foreign automakers have scaled back in the Asian nation as domestic players have taken greater control of the market

EV sales are now back to mid-2024 levels, before the European Union introduced tariffs on Chinese-made electric cars

One reason for the shift to fossil fuel-burning models has been the added EV levies, which raised import duties to as high as 45 per cent in the case of state-owned Saic

It will add two more factories in the region, and offer electric vehicles, hybrids and conventional cars