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Mercedes says electric car market is ‘brutal’ for manufacturers

German company points to ‘intense price competition’, which it sees as unsustainable

Mercedes-Benz has said the electric car market is “brutal” for carmakers as heavy competition forces them to cut prices.

Sales of electric cars are soaring in Europe and China, with the US further behind, but the rush of new launches is putting pressure on European manufacturers in particular, who are struggling to compete with cheap models coming from China.

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