BYD's stock tumbles 30% as EV price wars intensify
BYD, China's top electric car brand, just saw its stock tumble over 30% from its all-time high reached four months ago, wiping out about $45 billion in value.
Investors are uneasy as the company faces fierce price battles and government efforts to rein in excessive discounting.
BYD's delivery target cut highlights tough EV market conditions
BYD has cut its 2025 delivery target by nearly a million cars and reported a 30% profit drop last quarter—the first dip in more than three years.
This shows how tough the EV market is getting, with shrinking profits and tighter margins even for the biggest players.
Beijing's clampdown on discounting poses challenges for BYD
Beijing is clamping down on aggressive discounting to rein in excessive competition, making BYD's usual playbook less effective.
The company also has an aging lineup and won't launch new models until 2026.
Still, analysts expect BYD's international sales to hit nearly one million cars this year thanks to ramped-up global production—even as local rivals like Geely are catching up fast at home.