Fierce competition expected to continue in China's electric vehicle market amid expanding tech and startup presence
• Fierce competition in China's NEV market will continue in 2024 amid expected sales growth • Price war, more new models may continue challenging companies to survive • Tech firms like Huawei, Xiaomi entering market, competing with automakers • Chinese automakers BYD, SAIC defended market share in 2023, aim for rapid growth • Startups like Li Auto targeting sales on par with BMW and Mercedes-Benz in China