Tesla's price cuts in China have made some models 50% cheaper than they are in the States. At this rate, some automakers in the country stand to be destroyed.
Tesla is majorly disrupting the EV market in China and is giving 50% discounts on its cars. This has led to a major price war in the market, and caused other Chinese EV makers to change their strategies.
Operator: Hello, ladies and gentlemen. Thank you for standing by, and welcome to the NIO Inc. Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.