Etiqueta: Leapmotor

BYD, Chery Push Hybrids to Avoid Tariffs in Europe

China's electric car price war shows little sign of letting up, putting more pressure on companies to survive.

A renewed EV price war launched by BYD Co. has shaved more than $20 billion off its market value in just two weeks, as skepticism over the top Chinese automaker’s strategy takes some steam out of its big rally.

The Chinese government is getting involved in the wave of discounts for electric cars triggered by BYD. At a meeting organised by the Ministry of Industry and

El gobierno chino se está implicando en la oleada de descuentos para coches eléctricos impulsada por BYD. En una reunión organizada por el Ministerio de Industria y

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...

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.

BYD is no longer just building electric cars; it’s building pressure. As China’s dominant electric vehicle (EV) maker cuts prices, scales exports, and tightens its grip on market share, competitors, especially at home, are feeling the strain, but in Africa and Asia, the tide may just be what they need ...