BYD Co. Ltd., a leading Chinese electric vehicle manufacturer, has dismissed media reports suggesting a reduction in production, affirming that its output remains stable despite the ongoing price war in China’s EV market. Sources close to the company confirm that production levels remain steady, countering claims of reduced shifts at its factories.
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BYD Denies Production Cutbacks Amid EV Price War, Says Output Remains Stable: Report
Photo by Benzinga
Key Takeaways:
- BYD Denies Production Cutbacks: The company asserts stable production levels, countering earlier media reports.
- Sources Confirm Normal Operations: Insiders reiterate that factory lines remain stable.
- Media Reported Reduced Shifts: Earlier claims suggested BYD reduced shifts at factories.
- Occurs Amid China’s EV Price War: The situation is set against a backdrop of intense market competition.
- Reported by CnEVPost and Benzinga: The reaffirmation and news outlets involved.
BYD Denies Production Cuts Amid China’s EV Price War
BYD Refutes Reports of Reduced Production
BYD Co. Ltd., a prominent figure in China’s electric vehicle industry, has officially denied reports suggesting it has cut back on production amid the nation’s fierce EV price war. Contrary to earlier media claims, the company maintains that its manufacturing output remains stable.
Media Claims of Production Reductions
Earlier, media outlets reported that BYD had scaled back production by reducing shifts at its Chinese factories. These reports implied that the company was adjusting its manufacturing activities in response to intensified competition and a potential decrease in demand within the EV market.
Company Sources Affirm Stability
In response to these allegations, sources close to BYD have reiterated that production levels on the factory lines remain stable. As reported by CnEVPost on Thursday, insiders confirmed, “The production remains stable,” effectively countering narratives suggesting the company is cutting back on output.
Navigating China’s Fierce EV Price War
The situation arises amid a fiercely competitive environment in China’s EV market, where manufacturers are engaged in aggressive pricing strategies to capture market share. Despite the pressure of the ongoing price war, BYD asserts that its production operations continue uninterrupted, signifying confidence in its market position and demand for its vehicles.
