BYD Co. has asked suppliers to accept price cuts next year in a signal the Chinese electric vehicle maker is preparing for the brutal price war in the world’s biggest auto market to intensify.

BYD has become a relentless discounter in the price war that Tesla started in the world's largest auto market last year. That aggressive stance has helped it unseat its U.S. rival as the world's biggest seller of electric vehicles, even though most of BYD's cars are sold in China.

Workers work on the assembly line at a factory of vehicle manufacturer BYD Auto in Xi'an, northwest China's Shaanxi Province. File photo: Xinhua. Annual price negotiations with su

Chinese automaker BYD has set negotiable price reduction targets for suppliers of large-scale purchases, a BYD executive's post on social media platform Weibo shows. The notice was posted on the Weibo account of BYD's Group-Brand and Public Relations Department general manager.

Chinas NEV giant BYD is urging suppliers to slash prices by 10% starting January 2025 to sustain its edge in an increasingly competitive market. The move underscores a growing trend of cost reductions as the