🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

How China’s BYD is squeezing suppliers in the EV price war

Livemint

Livemint · 1m ago

How China’s BYD is squeezing suppliers in the EV price war

China's largest automaker, BYD, is pushing its suppliers hard amidst a fierce electric vehicle (EV) price war. The company often pays suppliers using electronic IOUs, leading to extended wait times before payments are cashed in. This strategy helps BYD keep vehicle prices exceptionally low, such as offering a starter EV for under $8,000. Suppliers are pressured to cut costs and endure prolonged payment periods, compounding their financial burdens.

1

Related News

China opens online channel for complaints on automakers' supplier payments - The Economic Times

Economic Times

Economic Times · 1m ago

China opens online channel for complaints on automakers' supplier payments - The Economic Times

China's industry ministry has launched an online channel for complaints regarding automakers' payment pledges to suppliers, prompted by a price war backlash. Major automakers like BYD, Chery, SAIC, and Xiaomi committed to making supplier payments within 60 days. The ministry aims to regulate industry settlements and ensure "healthy and sustainable development." This initiative seeks to improve supplier relations and stabilize the automotive sector during challenging economic conditions.

Building Apple products has become a side hustle for China’s biggest EV maker

Livemint

Livemint · 8m ago

Building Apple products has become a side hustle for China’s biggest EV maker

Chinese electric vehicle maker BYD is responsible for assembling over 30% of Apple's iPads, according to industry executives and analysts. The company, which is Tesla's main competitor in the EV market, has a second business manufacturing electronics. BYD, along with iPhone assembler Luxshare, have become essential for Apple's supply chain in China, highlighting the difficulty of reducing Chinese manufacturing. Apple CEO Tim Cook has acknowledged the importance of the Chinese partners and their expertise, particularly in relation to tariff exemptions and diversifying suppliers.

Tesla's global job cuts hit China sales team, sources say

Economic Times

Economic Times · 1y ago

Tesla's global job cuts hit China sales team, sources say

Tesla is laying off staff in China, its biggest market after the US, as part of its global job cuts. Falling sales and intense competition in the electric vehicle market are said to be the reasons behind Tesla's decision. The company is facing a price war with rivals like BYD and is investing in new models and artificial intelligence. Tesla's global vehicle deliveries in Q1 2019 fell for the first time in almost four years.

China's BYD launches 3 EV models in Indonesia

Reuters · 1y ago

China's BYD launches 3 EV models in Indonesia

China's BYD, the world's largest electric vehicle manufacturer, has introduced three battery EV models in Indonesia in an effort to expand its presence in Southeast Asia. BYD overtook Tesla in Q4 2023 as the top EV maker, with the majority of its sales in the Chinese market. In Southeast Asia, BYD has been outperforming competitors in EV sales due to affordable models and partnerships with local distributors. The company will now sell the Dolphin hatchback, Atto 3 SUV, and Seal sedan in Indonesia.

Chinese automaker BYD inches closer to global EV dominance as Tesla sales dip

Economic Times

Economic Times · 1y ago

Chinese automaker BYD inches closer to global EV dominance as Tesla sales dip

BYD, the Chinese automaker, is closing in on Tesla as the world's largest electric vehicle (EV) seller. In the last quarter, BYD nearly surpassed Tesla in sales, driven partly by Tesla's delivery decline due to factory downtime. BYD sold 431,603 fully-electric vehicles in the quarter, a 23% increase, compared to Tesla's 435,059. BYD's growth includes hybrid models, and it is expanding its appeal with luxury and budget-friendly EVs. The company's export sales are also increasing, making up 9% of its third-quarter sales, contributing to its dominance in the EV market.

Having Overtaken Tesla, BYD Is Running Into Problems Overseas

Livemint

Livemint · 1y ago

Having Overtaken Tesla, BYD Is Running Into Problems Overseas

Chinese automaker BYD, known for its electric vehicles (EVs), is facing challenges in expanding its presence overseas. Despite surpassing Tesla as the world's top EV seller, BYD has struggled to replicate its success in Europe and other major foreign markets. Issues such as weak market demand, high pricing, quality control, and internal tensions over market share have hindered its progress. The company's inexperience is evident in problems like mold in cars and vehicle stockpiling in European warehouses. BYD is unlikely to achieve its target of selling 400,000 cars outside China this year due to slower EV sales growth and company-specific issues.

BYD slows production, delays capacity expansion at China factories, sources say

Economic Times

Economic Times · 2m ago

BYD slows production, delays capacity expansion at China factories, sources say

BYD, China's leading electric vehicle manufacturer, has reduced production and postponed expansion at several factories due to rising inventory and slower sales growth. The company, which overtook Tesla as the top EV producer, has cut shifts and output by at least a third at some locations. Despite aggressive price cuts, sales fell short of targets, prompting cost-saving measures. These moves highlight challenges in China's competitive auto market, leading BYD to explore overseas opportunities to bolster sales.

China's BYD raises $5.59 billion in share sale, Hong Kong's largest in four years

Economic Times

Economic Times · 5m ago

China's BYD raises $5.59 billion in share sale, Hong Kong's largest in four years

Chinese electric vehicle maker BYD raised $5.59 billion in a primary share sale, the largest in Hong Kong in four years. The company increased the share size to 129.8 million, up from the initially planned 118 million. Shares were sold at a 7.8% discount. This move reflects positive sentiment in Hong Kong and China’s tech sector. BYD aims to invest in R&D, expand abroad, and support its business with the proceeds.

AI titan Nvidia ramps up collaboration with Chinese auto giants

Economic Times

Economic Times · 1y ago

AI titan Nvidia ramps up collaboration with Chinese auto giants

Nvidia has expanded its collaboration with Chinese electric car makers, including BYD, to work on the development of autonomous vehicles using AI technology. BYD, the world's largest EV company, will be adopting Nvidia's next-generation AV computer and its all-in-one vehicle control system, DRIVE Thor. Other Chinese EV firms, such as XPeng, Li Auto, ZEEKR, and GAC Aion, have also adopted the Thor platform. Nvidia's infrastructure for cloud-based AI development and training will be utilized by BYD as well. This move strengthens Nvidia's ties with the Chinese EV industry despite restrictions on exporting its powerful AI hardware to China imposed by the US.

BYD debuts first pickup truck in Mexico

Livemint

Livemint · 1y ago

BYD debuts first pickup truck in Mexico

BYD, the world's largest electric vehicle manufacturer, has unveiled its first pickup truck, the Shark, in Mexico. Priced at 899,980 Mexican pesos ($53,407), the midsize luxury plug-in hybrid will compete with models from Ford, Toyota, and Nissan in Latin America's largest vehicle market. BYD's decision to launch the truck overseas instead of in China reflects limited domestic demand for pickups due to usage restrictions in major Chinese cities. The move is part of BYD's strategy to expand overseas as it faces intense competition and a price war in its domestic market.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Just Months After Promotion, Open ...

Elon Musk’s xAI published hundred ...

Exclusive: Robotics startup Miko ...

Download the medial app to read full posts, comements and news.