BYD Leak Hints at Escalating China EV Price War

BYD Co., a leading Chinese electric vehicle manufacturer, is preparing for an intensified price war in China's auto market by requesting a 10% price cut from its suppliers. This move signals the company's strategy to maintain its competitive edge amid ongoing market consolidation and challenges faced by smaller players. Despite the fierce competition, BYD has continued to thrive, achieving record sales and surpassing Tesla in revenue for the first time. The company aims to sell over 4 million vehicles by the end of the year.