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.

Chinese automaker BYD is asking its suppliers to cut their prices, in a sign that a brutal price war in the world's largest auto market is set to escalate.

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.

According to a leaked letter circulating on social media yesterday, BYD has asked its suppliers to accept price cuts

We'll start with BYD and these potential price cuts. What level are we talking about here and what does this mean for both the Chinese EV market and the global? Who would even be riding with its advantages in supply chain and battery technology?