The price war that has been raging in China's domestic automotive market has now extended its reach to the charging infrastructure sector, precipitating a race to the bottom in terms of pricing. Jiang Tao, the individual in charge of a public charging station located in Chengyang District, Qingdao, shared that his station, which was established in 2020 with an investment exceeding 900,000 yuan and is outfitted with 16 rapid-charging guns rated at 120kW each, initially enjoyed robust revenues. In its inaugural year, the station generated an impressive annual income of 500,000 yuan. However, since 2023, the proliferation of charging stations in the vicinity has triggered a relentless downward spiral in service fees, causing a dramatic plunge in revenue. The station's annual income has now dwindled to a mere 80,000 yuan. When operational and maintenance costs are factored in, the annual profit is a paltry 60,000 yuan or so. The profitability of charging station operators is now a cause for concern, with some even operating at a loss. This price war has not spared third- and fourth-tier cities, where service fees in certain regions have plummeted from the previous range of 0.3-0.4 yuan per kWh to a meager 0.1-0.2 yuan. Some stations have even resorted to offering service fees as low as 5 cents per kWh. The price war has rendered the operation unprofitable for many operators, stripping upstream manufacturers and equipment suppliers of the market foundation necessary for technological innovation and advancement, and thereby jeopardizing the overall development of the industry.