BYD cuts EV prices about 10% amid China's price war
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BYD, China's top electric car brand, just dropped its prices by about 10% to keep up in a fierce price war.
With the Beijing auto show underway, BYD and rivals like Geely and Chery are offering bigger discounts to hang on to their market share as competition and overproduction ramp up, even though the government is trying to cool things down.
BYD profit dip, debt and tariffs
BYD is dealing with its first annual profit dip since COVID-19, so it's tweaking its finances and taking on more debt.
China's auto factories can build way more cars than China actually needs right now, so it's pushing hard into overseas markets.
But exporting more EVs has brought new headaches (like higher tariffs from places like the European Union) thanks to growing trade tensions.