HONG KONG — Chinese EV champion BYD’s major offensive in the country’s electric vehicle price war is forcing competitors to follow suit and could drive further consolidation in the sector, analysts say.
Since the beginning of this year, BYD has repeatedly launched limited-time “fixed price” or subsidy campaigns, effectively reducing prices through means such as manufacturer subsidies and cash discounts. Last Friday, the automaker made its biggest such move yet: Until the end of June, buyers will get discounts of up to 34% on 22 of its battery-powered and plug-in hybrid models.
