BYD making biggest profit ever further stokes up Chinese price war

Joris Van Roy

March 28, 2024

BYD lowered the price of its Tesla Model 3-rivalling Seal sedan by 5% or 10 to 30,000 yuan to 179,800 yuan. Tesla lowerd the entry-level Model 3 price in January with 15,000 yuan to 245,900 /BYD

With the comfortable certainty of 30 billion yuan (€3,83 billion) profit made in 2023, the top Chinese EV maker BYD can afford to fuel further the price war it initiated to prove electric cars can be sold even cheaper than their ICE siblings. Next in a long row, seeing its price lowered by 5%,
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