The automotive industry is currently undergoing a transformative shift towards electrification, with electric vehicles (EVs) gaining traction globally due to their environmental and economic benefits. In this context, Chinese automaker BYD has made a significant breakthrough by launching an astoundingly affordable electric car that has set a new benchmark in the industry. This development could potentially ignite a price war and accelerate the adoption of EVs.

Tesla, the electric vehicle (EV) pioneer, is engaged in a fierce global price war, slashing prices in key markets like China, Germany, and the United States. This unprecedented move has sent shockwaves through the automotive industry and raised questions about the company's long-term strategy.