BYD Intensifies China's EV Price War with Major Cuts, Challenges Tesla and Global Automakers
BYD slashes prices across its electric and hybrid models, undercutting competitors like Tesla, Toyota, and Volkswagen in a strategic move to dominate the EV market.
- BYD reduces the price of its flagship Seal EV by up to 5%, positioning it as a direct competitor to Tesla's Model 3.
- The aggressive price cuts extend to nearly all BYD models, aiming to lure customers from traditional and electric vehicle makers.
- BYD's strategy targets a broad market, from wealthy urbanites to rural residents, making EVs more accessible.
- The price war could lead to a consolidation in China's crowded EV market, with weaker players being forced out.
- Analysts anticipate the price cuts may affect BYD's margins, but the company's high margin advantage allows for aggressive pricing.
Fortune 
South China Morning Post 
