BYD Price Cuts Spark EV Stock Downturn in China Amidst Fierce Competition

China’s electric vehicle (EV) market is experiencing a downturn as BYD, the country’s leading auto manufacturer, slashes prices on over 20 models. This aggressive pricing strategy has significantly impacted major players like Geely and Great Wall Motors, with their stocks declining in response to BYD’s competitive edge. The move intensified an ongoing price war, prompting concern that this trend could harm industry profitability and lead to further price wars among manufacturers.