Chinese EV Makers Slash Prices as Competition Heats Up ...Middle East

OILPRICE - Economy
Chinese EV Makers Slash Prices as Competition Heats Up
source : OILPRICE ( Middle East ) () 38
Shares in Chinese electric vehicle (EV) makers slumped on Monday despite surging interest from UK buyers, as industry titan BY introduced a round of new price cuts in an already bruising market battle. Hong-Kong listed BYD dropped as much as 8.25 per cent from a record high set last week, after an announcement over the weekend slashing prices on 22 electric and plug-in hybrid models. The steepest cut, a 34 per cent discount, was applied to one plug-in hybrid. This reduced the model’s price by RMB 53,000 (£5,423) to RMB 102,800 (£10,519).…

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