SHANGHAI, April 22 (Reuters) - Prices of electric cars

and plug-in hybrids in China's Southern Shenzhen city, a

metropolis with high EV adoption, have fallen 5% to 10% this

year, the country's state planner said on Monday.

BYD and Denza cars have been leading the price cuts with

reductions of 7.15% to 9.7% to the prices of five models in

April compared to those at the beginning of the year, according

to a statement of National Development and Reform Commission

(NDRC).

NDRC cited oversupply, falling battery costs and economies

of scale as the main reasons.

NDRC expected more than 110 new energy vehicle models among

a total of 150 new cars would be launched this year,

intensifying a competition with various types of price wars.