Shares of Chinese electric vehicle maker BYD fell nearly 8% after the company reported a 30% decline in second-quarter profits, weighed down by intensifying price competition in China’s EV market.
The profit drop reflects a fierce pricing battle among domestic EV manufacturers, which has put pressure on margins despite strong overall sales growth. BYD also cited rising raw material costs and increased incentives as factors contributing to the earnings slump.
Analysts warn that the aggressive pricing strategies could continue to challenge BYD’s profitability in the near term, even as the company expands its production capacity and explores international markets. Investors are closely watching how the EV giant navigates competition while maintaining its growth trajectory. 
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