This is BYD's first price cut this year, meaning that keeping market share stable in 2023 may be more important than maintaining profit margins.
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BYD's personalized new brand has an internal code name of "F Brand" and the first model could be an off-road SUV like Great Wall Motor's Tank 300, local media said.
Insurance registrations for most new energy vehicle (NEV) brands in China were flat or up slightly last week compared to the previous week, the latest figures show.