BYD’s Global Push Amid Domestic Challenges

The Chinese electric vehicle giant BYD is navigating its most significant profit decline in four years, prompting a strategic pivot toward international markets as its home territory faces intense pressure.

BYD reported a net profit of 7.8 billion yuan for the third quarter, representing a steep 32.6% decrease compared to the same period last year. This marks the most substantial earnings drop the company has experienced in over four years and constitutes the second consecutive quarter of declining profitability. Revenue also contracted for the first time in five years, falling 3.1% to 195 billion yuan.

The primary driver behind this downturn is an aggressive price war within China’s EV sector. Intense competition Read more...