Mar 17, 2022 08:13 PM

BUSINESS

As Lithium Surges, BYD Raises EV Prices for Second Straight Month

An electric vehicle gets charged up at a BYD dealership in Shanghai on Dec. 20. Photo: VCG

An electric vehicle gets charged up at a BYD dealership in Shanghai on Dec. 20. Photo: VCG

China’s best-selling electric-car company, BYD Co. Ltd. (002594.SZ) has raised the price of its vehicles for the second consecutive month, citing soaring raw material costs.

The Shenzhen-listed company will hike the price of all 18 of its electric vehicle (EV) models by 3,000 yuan ($472) to 6,000 yuan from Wednesday, according to a social media announcement from the company published minutes before midnight late Tuesday.

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