Etiqueta: BYD

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 [...]

Yuqian Ding, Head of China Auto Research at HSBC, looks at pricing pressures facing Chinese EV makers and analyses how BYD has grown into a globally competitive car brand.

Shares in some of Tesla's biggest Chinese rivals fell on Monday after BYD's price cuts fueled fears over the country's brutally competitive EV sector.

BYD offers discounts of 10 to 30 per cent on 22 of its battery-powered and plug-in hybrid models.

BYD shares dropped over 5% after Chinese EV maker announced price cuts on the sale of its vehicles

Carmaker BYD last week offered discounts for many of its models, triggering industry concerns about another price war.

Industry leader BYD announces fresh round of price cuts for its models

It follows a plunge of more than 9% on Monday, which was a reversal from its record high last week.

Citi estimates that BYD's price reduction may have seen a 30% to 40% spike in footfall at its dealership store on May 24 and 25, from the previous weekend.

BYD shares dropped 8.5% after announcing price cuts up to 35%.