US EditionBYD's Aggressive Pricing Triggers EV 'Rat Race:' Stock Tumbles, Authorities Voice Concern - BYD (OTC:BYDDY)
- BYD cut prices on its Seagull EV to 55,800 yuan on May 23, sparking backlash from Chinese officials and regulators over aggressive discounts.
- The price reductions of up to 34% came amid concerns the moves triggered a new price war panic harming profit margins and supply chain stability.
- Last month, BYD sold nearly 377,000 passenger vehicles, up 14% from May 2024, and expanded overseas with record registrations of Dolphin Surf EVs in Europe.
- China's Ministry of Industry convened over a dozen EV makers including BYD in Beijing to urge fair competition and caution against selling below cost, citing a "new round of price war panic."
- BYD's stock plunged up to 15% last week amid ongoing concerns that the price war could damage China’s EV sector reputation and strain domestic supply chains.
11 Articles
11 Articles
BYD's latest EV price cuts trigger 'war panic' as China warns it's now out of control
Following another round of price cuts last month, BYD is now facing backlash from top Chinese officials and regulators. China warned BYD’s latest cuts are triggering “price war panic,” and that it’s now getting out of hand. more…
BYD’s latest EV price cuts trigger ‘war panic’ as China warns it’s now out of control
Following another round of price cuts last month, BYD is now facing backlash from top Chinese officials and regulators. China warned BYD's latest cuts are triggering "price war panic," and that it's now getting out of hand. more . . .
BYD, a Chinese electric vehicle manufacturer, has recently significantly reduced the prices of several smart driving models, which may trigger another wave of market price wars. Some media reported that BYD plans to bypass the Thai manufacturing to enter the Taiwanese market. The Ministry of Economic Affairs pointed out that it will activate four major countermeasures. If illegal transshipment is confirmed, the maximum fine is NT$3 million, and …
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