Price war sparks EV financial crisis concerns in China as BYD executive calls competition in Chinese electric vehicle market 'unsustainable'
a year ago by Hotznplotzn to c/electricvehicles
cross-posted from: https://lemmy.sdf.org/post/37005961
[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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A community for US based EV enthusiasts.
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If posting an article, please set your title to be the same as the title of the article.
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