- Shares in BYD plunged as much as 8.25%, a steep drop from its record high last week.
- The company announced that it was reducing the prices on 22 models until the end of June.
- Shares of other Chinese automakers also declined on Monday.
Shares in BYD
plunged as much as 8.25% Monday, a steep drop from their record high last week, as investors assessed the Chinese electric vehicle giant’s price cuts on May 23.
The company announced on the Chinese social media platform Weibo that it was reducing the prices on 22 electric and plug-in hybrid models until the end of June.
For instance, the price tag of the Seagull hatchback was reduced by 20% to 55,800 Chinese yuan ($7,780), while that of the Seal dual-motor hybrid sedan was cut by 34% to 102,800 yuan.
https://www.cnbc.com/2025/05/26/chinas-byd-sees-shares-plunge-8percent-as-ev-maker-cuts-prices.html