BYD, China's top-selling car brand, demands a 10% cost cut from suppliers amid a fierce auto price war.

Chinese EV giant BYD is pressing suppliers for a 10% cost cut to prepare for a fierce price war in China's auto market. Despite the ongoing market turmoil, BYD has come out largely unscathed and has become the country's top-selling car brand, with over 3.2 million plug-in hybrid and electric vehicles sold this year. The price war has been raging for at least two years, pushing smaller competitors to the brink and driving industry consolidation.

November 27, 2024
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