As Electric Car Subsidies Dry Up, BYD Hikes Its Prices

What’s new: BYD Co. Ltd. has become the latest electric vehicle (EV) brand to announce a price hike on the surging cost of raw materials and reduced government subsidies.

The unit price of the Shenzhen-listed EV- and battery-maker’s vehicles will increase by up to 7,000 yuan ($1,102) at the start of next month, the firm said in a late Friday social media post (link in Chinese), adding that the change will not affect customers who have already made a down-payment on a new car.