Overview

• BYD announced temporary price cuts of up to 34% on 22 electric and hybrid models, effective until the end of June 2025.
• The company's share price fell as much as 8.25%, with founder Wang Chuanfu's wealth dropping by $1.8 billion in a single day.
• Analysts report a 30% to 40% increase in dealership foot traffic following the price reductions, signaling strong consumer interest.
• Competitors, including Leapmotor and IM Motors, have responded with their own price cuts, intensifying market competition.
• The price cuts have raised concerns of a deepening price war in China's EV market, impacting shares of other automakers like Geely and Li Auto.