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Chinese electric vehicle manufacturer BYD has reduced the starting price of its Seal EV sedan by 5.3% to 179,800 yuan ($24,978.12) to compete in the growing EV market. This move is part of a broader trend in China where EV makers are engaged in a fierce price war, leading to rapid depreciation of vehicles. Legacy automakers like Nissan are also cutting production costs and expanding their electrified vehicle lineup to stay competitive. BYD's recent financial performance includes a 80.72% increase in net profit for 2023 and plans to distribute dividends to shareholders.
EVs were to have been a spearhead of the West's ballyhooed Green Revolution. It would turbocharge economies and save the planet. Today that ambition is on the verge of unravelling in the West. It is China that has picked it up and run with it, decisively becoming the world’s EV… https://t.co/8ZhU3L4l1t
This is a rundown of BYD's financial performance. Conclusion: BYD struggles to meaningfully increase its lackluster profitabililty (5.1%). This reflects the intense global competiton in BYD's two most important businesses: auto sales and batteries. In neither market, BYD can… https://t.co/xbGUvhKwF7
Opinion | How the US, home of trailblazer Tesla, lost the EV race to China https://t.co/evWU374LBN
💰 BYD ADR $BYDDY EPS. vs Forecast 0.8286 / 0.9461 🔴 Rev. vs Forecast 27.62B / 27.37B 🟢 Market Cap: 88.37B
💰 BYD Co Ltd-H $BYDDF EPS. vs Forecast 0.4143 / 0.473 🔴 Rev. vs Forecast 27.62B / 27.37B 🟢 Market Cap: 80.14B
BYD releases last year’s profit report, and it falls a little short https://t.co/ikHtAim7KK
🔥NEWS: BYD has likely generated more free cash flow in Q4 2023 than ALL other global automakers comibned! BYD reported today free cash flow $7,045M which marks by far the company's best ever quarter in terms of this important metric as well as by far the highest free cash flow… https://t.co/C6wMobnQA7
Shares in Chinese electric-vehicle maker BYD have bounced back about 30% from recent lows after China's government said it would encourage drivers to replace their old cars. https://t.co/jSpptDD8QV
Why should American automakers worry when their electric car sales are soaring?🚗 @DKThomp and @robinsonmeyer explain how China's wallet-friendly vehicles are expected to disrupt the status quo. https://t.co/QOQo5YPBQ1
BYD posts record US$4.16 billion earnings for 2023 on strong EV deliveries https://t.co/h3c8fyeMLc
BYD releases last year's profit report, and it falls a little short https://t.co/dLN1n3ouqv
As Chinese EV makers slash prices, drivers are seeing the value of their vehicles plummet just weeks after their purchases. Thousands of buyers are facing the threat that their car’s maker could shut down, leaving services and software maintenance in limbo https://t.co/5oA2l4YSMS
BYD: The net profit for 2023 was 30.04 billion yuan, representing an increase of 80.72% compared to the previous year. The company plans to distribute a cash dividend of 30.96 yuan for every 10 shares to all shareholders. #China $BYD
Automakers beware: BYD can still afford to cut prices https://t.co/kscgahcsTT | opinion
China’s zombie car plant problem - @edwardwhitenz column here on how Chinese EVs are not just disrupting global markets but domestic ones too. This terminal decline of factories devoted to the internal combustion engine is a tricky challenge for Beijing https://t.co/aBW2pNW5xt
Nissan announces plans to make 16 new electrified vehicles by 2026 https://t.co/yBtUeo0B2y
BYD SHARES REBOUND ON CHINA'S LATEST PUSH FOR EV BUYING - NIKKEI
When is a cheaper car a bad thing? When you're a recent grad and take out a loan for a car that soon plummets in cost. @violazhouyi on why Chinese EV owners are organizing online and even protesting to demand accountability during a wild price war: https://t.co/PXk0AhVrV8
Nissan promises aggressive electrification push to cut costs, boost global sales: Nissan will expand its electric vehicle lineup, develop more powerful batteries and cut production costs, while speeding up the whole process, in… https://t.co/5UlxXMYhfP #japannews #japantoday
BYD shares rebound on China's latest push for EV buying https://t.co/vvFsXJvQ5k
China's brutal EV war forces BYD to cut the starting price for its flagship Tesla Model 3 competitor. https://t.co/eew0GB2zN8
Nissan to make EVs more affordable, plans to slash costs to reach EV/ICE price parity https://t.co/p3sEO7vyn5 by @EVPeteJohnson
Here's how Nissan plans to catch up to unexpected EV surge https://t.co/oZEVlLhJkw
BYD launches lower-priced version of its Tesla Model 3 rival electric sedan, starting at $25K https://t.co/lTS3oWNPiO by @EVPeteJohnson
Chinese EV brands are fighting a fierce price war, leading to fast depreciation. Some startups are pushed to the brink of collapse, leaving software maintenance in limbo New from @violazhouyi https://t.co/5oA2l4YSMS
Nissan to cut cost of making electric cars by nearly a third by 2030 https://t.co/m7EbShsGc9
Nissan promises aggressive electrification push to cut costs, boost global sales https://t.co/pl9Ya09l53
Nissan to launch 16 electrified models by 2026 https://t.co/7zCaWX1Agw
NISSAN TO CUT EV PRODUCTION COSTS TO COMPETE AGAINST CHINESE RIVALS-FT
BYD on Monday lowered the starting price of its Seal EV sedan by 5.3% to 179,800 yuan ($24,978.12). #China #BYD $BYD #EV $TSLA
As the world embraces electric vehicles, China’s affordable EVs could be poised for global dominance—a possible future that worries both legacy automakers and Tesla CEO Elon Musk. https://t.co/wp9A1Sy0cm
CHINA EV WAR: BYD TAKES ON LAGGARDS TOYOTA, VW WITH STEEP PRICE CUTS
BYD has sparked another round of car price cuts in China to convince drivers to go electric, https://t.co/b7l67xmkj3
China's BYD lowers starting price of new version of Seal electric sedan https://t.co/dQqpQII9LK https://t.co/gSg4z2booT