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BYD's Aggressive Pricing Triggers EV 'Rat Race:' Stock Tumbles, Authorities Voice Concern - BYD (OTC:BYDDY)
- BYD cut prices again on May 23, reducing the Seagull EV's starting price to 55,800 yuan , sparking a price war in China.
- This price cut followed earlier discounts up to 34% across 22 vehicles and led to mounting regulators' concerns and media warnings.
- Despite recent price reductions, BYD moved close to 377,000 passenger cars in the previous month, reflecting a 14% increase compared to May 2024, while also growing its international sales with models like the European version of the Dolphin Surf EV.
- China's Automobile Manufacturers Association stated the cuts triggered a 'new round of price war panic,' causing share prices to fall more than 5% on Hong Kong markets.
- The price war risks damaging corporate profits and China’s EV reputation, while BYD continues to grow but faces rising quality concerns and regulatory scrutiny.
49 Articles
49 Articles
Major US airport announces partnership with Chinese brand that could transform travel experience: 'Showcases a forward-thinking approach'
Global electric vehicle champion BYD is introducing battery-electric shuttle buses to Oakland International Airport in Alameda, California. As the fourth-largest airport in the state, serving around 11 million passengers annually, OAK's incorporation of EVs is sure to make an impact. It is introducing five new K9MD shuttles, each of which seats 42, for passengers and employees. Powered by long-lasting lithium-ion phosphate batteries, these clima…
China's largest electric car manufacturer has decided to hit the competition with dumping prices. It is not yet clear who will win this battle, but it is clear that Chinese companies have enough inventory and a large backlog to afford such a price cut for their models.
Chinese Automakers Sent To The Principal's Office Over EV Price War Spat - CleanTechnica
I recall the Chinese EV market getting into an extreme price war a couple of years ago, and then another one, and then another one…. The market has been in a series of prices for a long time, and BYD reportedly started another one recently. Some other big players in ... [continued] The post Chinese Automakers Sent To The Principal’s Office Over EV Price War Spat appeared first on CleanTechnica.
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