Leaked BYD letter signals China electric vehicle price war is set to intensify

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The Straits Times 2h ago

Leaked BYD letter signals China electric vehicle price war is set to intensify - The Straits Times

Quick Summary:

Auto giant BYD has asked suppliers to accept price cuts in 2025.

The email indicates the EV maker is positioning itself for further discounts in the coming year.

Western automakers such as Volkswagen and Stellantis have teamed up with Chinese manufacturers Xpeng and Zhejiang Leapmotor Technology to try to leverage their EV expertise, while premium EV brand HiPhi and Shanghai-based WM Motor are mired in bankruptcy proceedings.