Petrol Powered Punching Bags in China's EV Uprising The recent discounts offered by foreign carmakers like Volkswagen and Toyota on petrol powered cars in China are a symptom of a larger problem – the transition to electric vehicles has left traditional manufacturers struggling to stay afloat.
The average discount of 23. 4 percent is a desperate measure to cling to market share, but it's clear that the writing is on the wall.
The China Passenger Car Association notes that international car brands have been slow to transition to electric vehicles, allowing domestic manufacturers to gain a foothold in the market.