Price war sparks EV financial crisis concerns in China - Asia Times
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BYD faces growing challenges from an intensifying price war and a change in supplier payment regulation in China

Crossposted from https://lemmy.sdf.org/post/37005961

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[Chinese EV manufacturer] BYD is facing growing challenges from an intensifying price war and a change in supplier payment regulations in China, raising market concerns about the company’s financial stability.

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BYD executive vice president Stella Li told Bloomberg in an interview on June 12 that the “very extreme, tough competition” in the Chinese EV market is unsustainable.

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Last October, the European Union imposed tariffs ranging from 17% to 35.3% on Chinese EVs (BYD: 17%, Geely: 18.8%, SAIC and others: 35.3%). China suggested setting minimum prices for the EVs it ships to the EU. Both sides are still negotiating the matter.

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