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DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Chinese electric vehicle giant BYD has initiated a series of significant price cuts in China to boost electric vehicle adoption. The company's aggressive pricing strategy aims to compete with laggards like Toyota and VW, resulting in rebounding shares and record annual profits. Despite becoming the top EV seller, BYD faced challenges with its slowest quarterly profit growth in two years due to a brutal price war in the market.
BYD overtook Tesla as the world’s biggest seller of EVs but an earnings miss amidst a growing price war sent shares plunging the most in a year. https://t.co/HHRgOaAeBj
BYD’s profit soared 80% in the year the Chinese EV giant overtook Tesla https://t.co/zNKvB3AKoM
From @Breakingviews: BYD is driving China's electric-car battle from a position of strength. The world's largest EV maker is winning market share in the People's Republic. While challenges lay ahead, China's top carmaker is in surprisingly good health, says @KatrinaHamlin https://t.co/n2VwPr6ZA8