Reported about 10 hours ago
BYD Co. has leaked a letter requesting suppliers to accept price cuts in 2025, indicating a preparation for intensifying price competition in China's electric vehicle market. The request follows ongoing price wars that have pressured smaller manufacturers, while BYD has successfully increased its market share amid these challenges. With record sales and revenue, BYD has established itself as China's top-selling car brand, selling approximately 3.2 million electric and hybrid vehicles this year.
Source: YAHOO