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Leaked BYD e-mail signals China EV price war set to intensify
The Straits Times
|November 29, 2024
BYD has asked suppliers to accept price cuts in 2025, in a sign that the Chinese electric vehicle (EV) maker is preparing for the brutal price war in the world's biggest car market to intensify.
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A screenshot of an e-mail purportedly from the Shenzhen-based car giant was circulating on social media on Nov 27, demanding 10 per cent price cuts from an unnamed supplier from January.
"Annual bargaining with suppliers is a common practice in the automotive industry," Mr Li Yunfei, BYD's public relations and branding director, said in response to the e-mail on Nov 27.
"We put forward price reduction targets to suppliers," he added. "They're not mandatory requirements. We can negotiate."
Dit verhaal komt uit de November 29, 2024-editie van The Straits Times.
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