China’s electric vehicle market is the world’s largest — and its most cutthroat, with dozens of brands jostling for position.

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.

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.

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