Turmoil in China’s EV market could accelerate the transition
Beijing should not intervene in a shake-up that can do EVs good
Chinese automakers are repeating their past follies. That may be a good thing. As electric vehicles (EVs) eat into the market share of their traditional peers, carmakers in China are aggressively cutting prices to lure buyers. That looks like the beginning of yet another bust-boost-boom cycle: a period of flailing demand, followed by incentives to stimulate buying, and then, hopefully, sales surge.