Tesla and its Chinese rival BYD Co. have reignited their price war, with both EV makers offering big discounts as they battle for supremacy in the world’s biggest auto market.

Electric car makers including Tesla Inc. and BYD Co. have unleashed further discounts and incentives in China in a final push to meet annual sales targets.

China’s top maker of electric vehicles (EV) wants to pay a lot less for car parts in the new year, a demand that signals there is no end in sight to a vicious price war nor economic gloom marked by lower wages and uncertain prospects.

BYD Co. has asked suppliers to accept price cuts next year in a signal the Chinese electric vehicle maker is preparing for the brutal price war in the world’s biggest auto market to intensify.

EV automakers Tesla (TSLA) and BYD (1211.HK, BYDDY) are offering vehicle discounts and incentives to boost year-end sales in Chinese markets. Catalysts hosts Seana Smith and Madison Mills discuss the analyst coverage around Tesla.

Both BYD and SAIC Motor reportedly asked suppliers for 10% discounts amid fierce competition in China's oversaturated EV sector.

Chinese electric vehicle maker BYD , has requested price cuts from dozens of its suppliers, state-owned news outlet Yicai reported on Friday citing unidentified sources.

Some Chinese parts suppliers have expressed their dissatisfaction over a recent request from BYD to cut their prices by 10% starting next year, saying any

The world’s largest manufacturer of electrified vehicles says it regularly requests price reductions from key suppliers as part of its annual negotiations