Tesla’s China Price War Sparks $18 Billion BYD Rout

(Bloomberg) — A Tesla Inc.-inspired price war among electric-vehicle makers in China is taking a toll on even the most resilient players, as shown by BYD Co.’s staggering $18 billion share-price drop in the past month.

U.S.-traded shares of the company, backed by Warren Buffett, lost 14% since the start of February, compared with Tesla’s 9% advance. A gauge of global EV makers fell 9% over the same period.