Etiqueta: BYD

BYD, the world’s biggest EV maker, announced that it would slash prices by up to 34% amid a global price war.

SHANGHAI (Reuters) -Shares in Chinese automakers such as BYD, Nio and Geely tumbled on Monday after industry leader BYD offered fresh incentives on over 20 models and the CEO of Great Wall Motors warned that the world's largest auto industry was in an unhealthy state. The Hong Kong-listed shares of BYD Co Ltd closed 8.6% lower, while Geely Auto fell 9.5%. Chinese electric vehicle giant BYD over the weekend announced a fresh round of subsidies and incentives for more than 20 models, which reduced the starting price of its cheapest model, the pure battery-powered Seagull hatchback, to 55,800 yuan ($7,765).

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.