CHINA'S BYD PRICES NEW VERSION OF BEST-SELLING EV LOWER THAN PREDECESSOR

BYD, China's top electric vehicle (EV) manufacturer, has introduced a new version of its best-selling car at a price lower than the final price of its discontinued predecessor. This move comes amidst a price war in the world's largest automobile market.

The company has been adjusting its launch prices downward for several models as part of its strategy to remain competitive amid increasing pressure from EV rivals. This includes domestic competitor Geely Auto and U.S.-based Tesla, both of whom are also offering incentives to attract customers in a market that is experiencing a slowdown. BYD's decision to lower prices underscores the intense competition within the EV sector in China, where companies are vying for market share by offering more affordable options to consumers.

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