Wednesday, October 1, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Leadership

Leaked BYD letter signals China EV price war is set to intensify

by Yurie Miyazawa
in Leadership
Leaked BYD letter signals China EV price war is set to intensify
Share on FacebookShare on Twitter


BYD has asked suppliers to accept price cuts next year in a signal the Chinese electric vehicle (EV) maker is preparing for the brutal price war in the world’s biggest auto market to intensify.

A screen shot of an e-mail purportedly from the Shenzhen-based auto giant was circulating on social media on Wednesday (Nov 27), demanding 10 per cent price cuts from an unnamed supplier from January.

“Annual bargaining with suppliers is a common practice in the automotive industry,” Li Yunfei, BYD’s public relations and branding director, said on Wednesday. “We put forward price reduction targets to suppliers. They are not mandatory requirements. We can negotiate.”

The e-mail indicates the EV maker is positioning itself to weather further discounts in the coming year. The price war in China’s auto market, which has raged for at least two years, has driven a wave of consolidation and pushed smaller players to the brink.

Western automakers such as Volkswagen and Stellantis have teamed up with Chinese brands such as Xpeng and Zhejiang Leapmotor Technology to try to leverage their EV expertise, while premium EV-brand HiPhi and Shanghai-based WM Motor are mired in bankruptcy proceedings.

BYD has so far come through the turmoil largely unscathed, if not strengthened. Earlier this year it led a new round of industry-wide price cuts, successfully gaining market share and squeezing weaker rivals.

It continues to deliver record levels of revenue and income. In the most recent quarter, its revenue overtook Tesla’s for the first time and its gross margin rose to 21.9 per cent, its highest level in a year.

The EV maker has grown to become China’s best-selling car brand, having sold around 3.2 million plug-in hybrid and EVs this year, including a record half a million cars in October. It is on track to sell at least four million units by the end of the year. BLOOMBERG

Share with us your feedback on BT’s products and services

Tags: BYDChinaintensifyLeakedLetterPriceSetSignalsWar
Yurie Miyazawa

Yurie Miyazawa

Next Post
Oregon Teen Obsessed with TV Show ‘Dexter’ Convicted of Luring Girl into Woods Before Raping, Killing Her

Oregon Teen Obsessed with TV Show 'Dexter' Convicted of Luring Girl into Woods Before Raping, Killing Her

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In