Oppose malignant competition and overwork culture. The China Automobile Industry Association releases an important initiative.

The Wise Finance APP learned that the China Association of Automobile Manufacturers posted on its WeChat account that in recent years, the new energy vehicle industry in China has been developing rapidly, with the sales of new energy vehicles accounting for over 40% of total sales. Currently, the industry is showing a stable and positive trend, with the market vitality continuing to be released. However, it has been observed that the profitability of the industry has been declining for some time, with the main reason being the intense competition characterized by disorderly "price wars" known as "internal competition." Product after-sales services need continuous investment to ensure quality, and enterprises need to innovate in order to develop. However, the "price wars" seriously impact the normal operation of businesses, jeopardize the safety of the industrial supply chain, and push the industry into a vicious cycle of development.