US EditionBYD Faces EV Challenge From Geely and Changan in May Amid Possible Regulatory Scrutiny · TechNode
- BYD announced a limited electric vehicle price cut of up to RMB 53,000 on May 23, amid strong May sales reported on June 1.
- The price reduction responded to intense market competition as major automakers Geely and Changan showed rapid EV sales growth in May.
- Geely's small hatchback Xingyuan, competing with BYD's Seagull, and Changan's offerings recorded significant delivery increases, intensifying rivalry.
- China's industry regulator warned of 'disorderly price wars' disrupting business and pledged inspections to curb such 'involution-style' competition.
- The price war and regulatory scrutiny may threaten profits and market stability, as BYD's shares plunged 17% recently, indicating investor concern.
16 Articles
16 Articles
China warns BYD, rivals to self-regulate on price war woes
Chinese officials summoned the heads of major electric vehicle makers, including BYD Co., to Beijing earlier this week to address concerns about the long-running price war, according to people familiar with the matter. The meeting was hosted by the Ministry of Industry and Information Technology, the market regulator and the top economic planning agency, said the people, who asked not to be identified discussing private information. The gatheri…
Geely "Not Giving Up On Gas Engines" - CleanTechnica
We have published a lot of positive articles about the rapid transition to electric vehicles in China, which has the hottest EV market in the world by far. However, it’s not all rainbows and roses. For example, there is some question about how much support plugin hybrids get and how ... [continued] The post Geely “Not Giving Up On Gas Engines” appeared first on CleanTechnica.
BYD faces EV challenge from Geely and Changan in May amid possible regulatory scrutiny · TechNode
Major Chinese automakers Geely and Changan Automobile reported strong electric vehicle sales growth for May, posing serious challenges to leading player BYD which launched a new round of price cuts and could face potential regulatory scrutiny in its homeland.Why it matters: The figures come on the heels of China’s top industry regulator promising to strengthen efforts to rein in “involution-style” competition in the country’s auto industry, with…
BYD's shares continued to fall despite monthly sales reaching their highest level this year, while the heavy discounts used by the industry to attract buyers attract scrutiny from China.The electric vehicle manufacturer sold 382,476 vehicles last month, including 376,930 passenger cars, according to a statement issued on Sunday.Although this was a record for this year, annual growth of 15 percent was the slowest since August 2020, except for a d…
Coverage Details
Bias Distribution
- 50% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
