m which is the chinese automotive association. so the most important and also a state directed association in china is really the outcome of half the year in tens um price cuts by trying to use it also for an electric vehicle manufacturers which has led some of the chinese government to believe that this is actually home full to the industry and consumers, milwaukee and we're hearing, of course, that has now fallen through that has look continued with a price lowering activities. does this surprise you? it is certainly surprising because obviously there's a lot of back and forth between the government. now we know what i'm hearing that has law has once again, cub price is just a couple of days. it's about an hour off of the room and was a sign. we also hearing that the agreement in the 1st place might not be aligned with china is empty trust regulation. so there seems to be a lot of that has a shots, the government, and also participants in this, in terms of price went on going negotiation this price for in the sector has been goi

chinese government and tesla competitors. particularly the ministry of information and technology they basically told the dealer association of automobile manufacturers, you have to get together tesla, you started this price war. the health of the automotivecture and ecosystem in china is extremely important we as the government have put a lot of policies in place this year to support it and we can't afford to have our own chinese homegrown competitors continue to burn through cash and have a price disruption >> mark, as an investor, i would say this might be a signal that tesla can't win in china, because the thumb is on the scale for the homegrown competitors. the government is saying to tesla, stop doing the things you need to do to win in china >> well, this is bad news for tesla. basically it handcuffs them. if you think about it, their chinese competitors are coming out with a very good product the reasons tesla took the price cuts earlier this year is because they were losing market share. when you take that pricing lever away, the good news is their margins will be better because they won't be cutting pricing. but the market share will continue to go down and volume will continue to struggle, which means their plant will be runnin