Carmaker BYD to Hike Prices as Cost Pressure Mounts

What’s new: Electric-vehicle (EV) giant BYD Co. Ltd. (002594.SZ/1121.HK) will raise prices for several of its vehicle models in China, citing the expiration of government subsidies and the rising cost of EV battery raw materials.

BYD will hike the prices of models in its Dynasty, Ocean and Denza series by between 2,000 yuan ($280) to 6,000 yuan each starting next year, according to a post on the firm’s official Weibo on Wednesday. BYD said it will disclose the exact pricing at a later date.