Etiqueta: Industry

(Bloomberg) -- 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. Most Read from BloombergICE Moves to DNA-Test Families Targeted for Deportation with New ContractThe Global Struggle to Build Safer CarsNYC Residents Want Safer Streets, Cheaper Housing, Survey SaysThe Buffalo Architect Fighting for Women in DesignThe meeting was ho

(Bloomberg) -- 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. Most Read from BloombergICE Moves to DNA-Test Families Targeted for Deportation with New ContractThe Global Struggle to Build Safer CarsNYC Residents Want Safer Streets, Cheaper Housing, Survey SaysThe Buffalo Architect Fighting for Women in DesignThe meeting was ho

From aggressive pricing to global expansion and grid integration, we explore how China’s evolving EV strategy is reshaping the global landscape, international partnerships, and infrastructure transformation.

Recently, the automotive industry has been in an uproar: Great Wall Motors' Chairman Wei Jianjun's statement "the Evergrande of the automotive industry already exists, it just hasn't exploded yet" instantly ignited public opinion. Although no names were mentioned, all eyes are on BYD, which has liabilities of 594.3 billion yuan. At the same time, BYD launched the largest price cut in history during the "618" shopping festival, with 22 models seeing discounts of up to 53,000 yuan, directly causing a major dip in the new energy vehicle sector. This move has made investors restless: on one hand, there's the overwhelming "Evergrande theory," and on the other, a fierce price war...

BYD faces widespread backlash from fellow automakers, as well as industry lobbying groups and even the ruling party. By Stewart Burnett

The automotive industry is undergoing a seismic shift as the electric vehicle revolution gains momentum. In China, a dramatic transformation is taking place, with more than half of all new car sales now electric. Local brands such as BYD have rapidly ascended the ranks, now holding third place among global automakers. In contrast, legacy brands tha...

The recent moves of BYD are filled with a sense of crisis, to the point where the title of China’s No. 1 and the world’s largest electric vehicle company is meaningless. The strategy recently chosen by BYD, a symbol of the Chinese electric vehicle industry and backed by the government’s full support, was surprisingly ultra-low price discounts. Behi...

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.

Chinese electric vehicle giant BYD saw its market capitalization plunge in late May after initiating sweeping price cuts of up to 34%, fueling fears of a full-blown price war and prompting speculation over potential regulatory intervention. The aggressive strategy has raised alarms across the industry over the long-term health of China's electric vehicle sector.