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Article Summary
- BYD's leaked letter signals that a price war for electric vehicles in China will intensify
- The letter emphasizes the need to lower costs and improve efficiency to stay competitive
- BYD plans to reduce prices by 20% over the next two years
- The company also aims to increase its market share in the electric vehicle sector
- The leaked letter highlights the fierce competition and pressure within the Chinese EV market
- Tone: urgent and competitive
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Leaked BYD Letter Signals China EV Price War Is Set To Intensify
A screen shot of an email purportedly BYD was circulating on social media Wednesday, demanding 10% price cuts from an unnamed supplier.
https://fortune.com/asia/2024/11/27/leaked-byd-let...
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