China's BYD sees shares plunge 8% as EV maker cuts prices

BYD adds to squeeze for China’s struggling EV makers

BYD, China’s biggest electric-vehicle (EV) maker, slashed prices by as much as 34 per cent, escalating a price war among the nation’s already floundering EV producers. Discounts will apply to 22 BYD battery-powered and plug-in hybrid models through the end of June, the automaker said on Friday. Rivals including IM Motors, a unit of state-backed SAIC Motor, and Stellantis-backed Leapmotor responded by making similar cuts. (EVs make up about half …

Chinese EV Makers Slash Prices as Competition Heats Up

Shares in Chinese electric vehicle (EV) makers slumped on Monday despite surging interest from UK buyers, as industry titan BY introduced a round of new price cuts in an already bruising market battle. Hong-Kong listed BYD dropped as much as 8.25 per cent from a record high set last week, after an announcement over the weekend slashing prices on 22 electric and plug-in hybrid models. The steepest cut, a 34 per cent discount, was applied to one p…

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BYD just fired another shot in China's EV price war — and investors are worried

BYD sales have boomed this year.Agoes Rudianto/Anadolu via Getty ImagesBYD just fired another shot in China's electric vehicle price war.The Tesla rival cut prices on 22 models last week, including its entry-level Seagull EV.Shares in Chinese EV makers tumbled on Monday as investors fretted over growing competition in the sector.China's EV price war just kicked up a notch — and investors are worried.Shares in some of Tesla's biggest Chinese riva…

Chinese EV shares tumble as BYD sparks ‘rat race’ price war fears

Electric vehicle leader announces fresh round of price cuts for its models

BYD shares drop 9% after price cut announcement

Shares of the Chinese electric carmaker BYD Company Limited dropped over 9% on Monday after price cuts were announced on Friday.The company said on its Weibo profile that it would reduce prices on 22 ...