BYD
- BYD, the world's top-selling EV seller, has launched a cheaper version of its Yuan Plus car.
- Rivals such as Xpeng and Tesla have also initiated price drops and incentives to entice buyers
- It comes as EV sales have dropped in China.
The latest version of BYD's best-selling Yuan Plus has gone on sale in China starting at about 120,000 yuan, or about $16,600, making it roughly 12% cheaper than its predecessor.
The price cut, which comes amid an accelerating EV price war and slowing sales in the world's biggest car market, was first reported by Reuters.