Feb 27, 2024 08:05 PM
BUSINESS
Commentary: BYD Price Cut Bombshell Tipped to Change Auto Market Landscape
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With China’s massive production capacity, fierce domestic competition and price wars, the time might have come for Chinese-made cars to make a large-scale entry into overseas markets.
On Feb. 19, BYD Co. Ltd., the world’s largest new-energy vehicle (NEV) maker, dropped a bombshell by launching the revamped versions of its flagship Qin Plus DM-i plug-in hybrid sedan and the Destroyer 05 sedan, with lower starting prices of 79,800 yuan ($11,090).
The price, 10,000 yuan cheaper than last year, stunned both NEV manufacturers and traditional automakers, and kicked off the latest round of intense competition in China’s NEV industry.
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