Image is by the PFLP

Li Auto, Tesla’s nearest rival in mainland China, reduced the price of all its vehicles by up to 5.7 per cent, just a day after the US carmaker offered discounts to local customers amid an escalating discount war.

The Beijing-based company announced on Monday morning that it would cut prices by between 18,000 yuan (US$2,485) and 30,000 yuan as a way of “focusing on customer value”. It said it is determined to keep improving its offerings for Chinese families such as its large vehicles fitted with household appliances.

On Monday, it cut the price of its Li Mega multipurpose minivan by 30,000 yuan, or 5.4 per cent, to 529,800 yuan. Launched in March this year, the fully-electric minivan described by its maker as being essentially a “mobile home” is designed to cater to the travel demands of wealthy families and is fitted with a refrigerator and a sofa. ⠀

“It is a fresh sign that the electric vehicle (EV) price war has spread to the premium segment now that Tesla and Li Auto, the two leaders, have joined the price competition,” said Eric Han, a senior manager at Suolei, an advisory firm in Shanghai. “Their pricing strategies are detrimental to small and unprofitable rivals whose profit margins will be squeezed further.” ⠀

On Sunday, Tesla lowered prices of its Shanghai-made Model 3 and Model Y vehicles by more than 5 per cent, a move that came hot on the heels of price cuts it made in the US, its biggest market, on Friday. ⠀

BYD, the world’s bestselling electric-car maker, fired the first salvo in a price war in February, slashing the prices of some budget models to lure young and low-income Chinese drivers.

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How is it possible for the BJP and Modi to be so popular? First, because of the bulk of the BJP’s political support comes from the rural and more backward areas of this huge country who have not benefited from the strident rise of Indian capitalism in the cities. These areas are bulwarks of Hindu nationalism, incentivised by fear of muslims.

The second reason is the total failure over the decades of the main capitalist party and standard bearer of Indian independence, the Congress party, to deliver better living standards and conditions for the hundreds of millions, not only in the country but in the city slums. Congress appears to millions as the party of the establishment controlled by a family dynasty (the Gandhis), while the BJP appears to many as the populist party of the forgotten people.

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WASHINGTON—Explaining why the United States would not call on Israel to end its continuous airstrikes on Palestinian civilians, the White House warned Wednesday that a ceasefire in Gaza would only serve to benefit humanity. “We know there are voices across the world calling for a ceasefire, but what everyone needs to understand is that the only people who stand to gain from halting the bombing campaign are people who deeply value human life,” President Biden said in an Oval Office address, adding that if Israel was not given time to collectively punish all 2.3 million people who live in Gaza, it would be a great victory for anyone who believes civilians are entitled to basic dignity and security for themselves and their families. “We cannot allow that happen. These humanitarian concerns may be valid, but right now, a pause in hostilities would advance the interests of no one but innocent Palestinians, the many U.S. citizens living in Gaza, and the more than 200 Israelis who were violently abducted by Hamas and are currently being held in unknown locations. That’s not what America stands for.” Biden later extended the argument to explain why the United States spent billions on military aid for Israel while it spent mere millions on humanitarian aid for Gaza.