BYD
Shares in Chinese automakers such as BYD, Nio and Xpeng tumbled after the chairman of Great Wall Motor worried openly about China’s deepening price war, with pricing pressure hammering car companies and suppliers.
Peugeot pushed cars into the fleet market while China's MG also added volume in the rental car sector. BYD sales were boosted by a new plug-in hybrid.
Brazilian labor prosecutors are suing Chinese electric vehicle maker BYD and two contractors over allegations of slave labor and human trafficking at the construction site of a manufacuturing plant.
Great Wall CEO warns Chinese EV industry is in an unhealthy state given heavy losses and a prolonged price war that is weighing on the supply chain.
Chinese automaker and Apple Inc. supplier BYD is being asked to turn over its books to the House Homeland Security Committee, as part of an investigation into national security risks posed by transportation manufacturers affiliated with the ruling Chinese Communist Party.
The Dolphin Surf, a longer version of the Seagull, China’s best-selling EV in April, will increase BYD’s portfolio in Europe to eight full-electric cars.
BYD, which is building an EV plant in Hungary, said the new European center will be a hub for sales and after-sales services, for testing and for developing localized versions of the company's models.
The ambitious goal would be fueled by expansion in Europe and Latin America, sources told Reuters, even as BYD and all other Chinese brands remain locked out of the U.S. by trade barriers.
Previously, the Chinese automaker only planned to make battery-electric vehicles in Hungary and Turkey, but rising interest in plug-in hybrids caused it to pivot.
BYD is waiting to unleash a suite of new vehicles stacked with smart-driving capabilities, and also, ultra-fast charging technology.
