BYD shares slide as China's EV price war hits profits
Source: BBC
Shares in Chinese electric vehicle maker BYD slid by as much as 8% on Monday after it reported a drop in profit because of a price war in China's car sector.The carmaker had on Friday reported that its net profit fell to 6.4bn yuan ($900m; £660m) between April and June, down 30% from a year earlier.BYD said in its filing that "increased price competition" among China's EV brands had impacted the industry.The…
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