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The price war in China for electric vehicles is intensifying after
XPeng
introduced major price cuts in the world’s biggest EV market.
XPeng
(ticker: XPEV) lowered the sticker on its G3i base models by 12.5%, or about $22,000, bowing to pressure after
Tesla
(TSLA) announced price cuts earlier this month. Other competitors, including
Mercedes-Benz
(MBG.Germany), have also recently slashed prices.
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