Chinese electric vehicle giant BYD has initiated a series of significant price cuts in China to boost electric vehicle adoption. The company's aggressive pricing strategy aims to compete with laggards like Toyota and VW, resulting in rebounding shares and record annual profits. Despite becoming the top EV seller, BYD faced challenges with its slowest quarterly profit growth in two years due to a brutal price war in the market.
BYD overtook Tesla as the world’s biggest seller of EVs but an earnings miss amidst a growing price war sent shares plunging the most in a year. https://t.co/HHRgOaAeBj
BYD’s profit soared 80% in the year the Chinese EV giant overtook Tesla https://t.co/zNKvB3AKoM
From @Breakingviews: BYD is driving China's electric-car battle from a position of strength. The world's largest EV maker is winning market share in the People's Republic. While challenges lay ahead, China's top carmaker is in surprisingly good health, says @KatrinaHamlin https://t.co/n2VwPr6ZA8
Chinese EV maker BYD targets 20% jump in annual sales - sources https://t.co/fc5R7cyL6B https://t.co/hzdNEutTHf
⚠️ CHINESE ELECTRIC VEHICLE MAKER BYD TARGETS 20% JUMP IN ANNUAL SALES Full Story → https://t.co/AyshDfL3Qo https://t.co/InwZ4EXyZT
From @Breakingviews: BYD, the world's largest electric-vehicle maker, is driving down prices in China with aggressive discounts. Yet its top and bottom lines are holding up well, suggesting the company can keep undercutting rivals to grow market share, says @KatrinaHamlin https://t.co/06fdjYoYLy
Chinese EV maker #BYD slid more than 7% after Q4 net profit grew slowest since 2022 https://t.co/haGgRmRhhd https://t.co/RRdiCPRWO4
WATCH: Chinese electric vehicle giant BYD reported its slowest quarterly profit rise since 2022, as EV sales lost momentum in the world's biggest auto market amid a brutal price war https://t.co/44T38kKtKw https://t.co/rtVSma4PLZ
BYD’s heavy discounts may have helped it unseat Tesla as the world’s top EV seller but hit it too. The Chinese carmaker reported its slowest quarterly profit rise in two years https://t.co/bjCSmZOYGP https://t.co/c9kPIFSL7r
BYD dethroned Tesla as the world’s top EV maker in the fourth quarter of 2023, selling more battery-powered vehicles than its U.S. rival. Here's how BYD became an EV juggernaut: https://t.co/P6RDpITv66 https://t.co/rBBU23w6pC
WATCH: BYD’s heavy discounts may have helped it unseat Tesla as the world’s top EV seller but hit it too. The Chinese carmaker reported its slowest quarterly profit rise in two years https://t.co/44T38kJVUY https://t.co/P5tGhinXv0
Chinese electric vehicle giant BYD reported its slowest quarterly profit rise since 2022, as EV sales lost momentum in the world's biggest auto market amid a brutal price war https://t.co/bjCSmZPwwn https://t.co/yoZ3opxBxM
Chinese EV giant BYD announces record annual profit for 2023 https://t.co/ARFxY0LDev
BYD: Chinese electric vehicle giant with surging profits https://t.co/RI5jeOymRh
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
China EV giant BYD posts slowest quarterly profit growth in 2 years https://t.co/pNSzP6Hl3O https://t.co/g4GDOExZgf
Chinese EV giant BYD reports annual profit that missed analyst estimates https://t.co/2KFpr0nlb2
Chinese EV giant BYD posts slowest quarterly profit growth in two years https://t.co/qRjZCCQP1D
How BYD grew from battery maker to electric vehicle juggernaut, overtaking Tesla https://t.co/5qsIcGduyR
BYD takes fight to EV laggards with #China price cuts https://t.co/hg4YiS0NhZ
BYD Takes On EV Laggards Toyota, VW With Steep China Price Cuts https://t.co/Rq4Fr0RO9w
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
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
Tesla has cut EV production at its China plant amid sluggish sales growth and intense competition in world’s biggest car market. https://t.co/x4CzjEzGLx
China's BYD strikes fear in the heart of auto execs everywhere with its new <$10K EV (a vehicle on which the company apparently earns a profit) https://t.co/chT4WlYC0Q
BYD's new EV, starting at less than $10,000, is stoking fear across the industry https://t.co/9sReEKJoyQ by @EVPeteJohnson