BYD cuts production amid China EV price war
BYD (Build Your Dreams) has scaled back production and delayed expansion at several factories in China amid rising inventory and slower-than-expected sales, according to Reuters sources. The EV maker canceled night shifts and cut output by at least one-third at four facilities while pausing new production lines. Despite targeting a 30% sales increase to 5.5 million vehicles this year, BYD’s output growth slowed to 13% in April and just 0.2% in May. BYD’s aggressive price cuts, including reducing its cheapest model to 55,800 RMB ($7,800), have intensified industry price wars. Dealers struggle with excess stock — BYD’s average inventory level hit 3.21 months in May, highest among Chinese brands.