Reuters
Huawei-backed Aito cuts prices in China, following Tesla
SHANGHAI/BEIJING (Reuters) -Chinese automaker Seres Group has cut starting prices for its Aito electric cars by 30,000 yuan ($4,460) from Friday, following price cuts by Tesla last week and fuelling expectations of a wider price war. The Aito M5 and M7 electric sports-utility vehicles, which were co-developed by the Chongqing automaker with China’s tech giant Huawei Technologies Co, are priced from 259,800 yuan and 289,800 yuan after the price cuts, according to according to a notice on Seres’ WeChat account.