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BYD seeks price cuts as auto war escalates
Mint Mumbai
|November 28, 2024
Chinese automaker BYD is asking its suppliers to cut their prices, in a sign that a brutal price war in the world's largest auto market is set to escalate.
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Citing a leaked email dated 26 November from BYD, Chinese digital news outlet thepaper.cn reported on Wednesday that the Chinese electric vehicle (EV) giant had asked one unidentified supplier to reduce its prices by 10% from 1 January.
Reuters was unable to verify the email, screenshots of which were widely shared on social media. BYD did not respond to a request for comment.
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