Etiqueta: BYD

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%.

(Bloomberg) -- BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday, as investors digested the auto giant’s sweeping price cuts of as much as 35% late last week.Most Read from BloombergNY Private School Pleads for Donors to Stay Open After Declaring BankruptcyUAE’s AI University Aims to Become Stanford of the GulfNYC’s War on Trash Gets a Glam SquadPacific Coast Highway to Reopen Near Malibu After January FiresShares of China’s No. 1 selling car brand tumbled as much as 8.3%,

BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday, as investors digested the auto giant’s sweeping price cuts of as much as 34% late last week.