China’s BYD raises car prices after subsidy cuts

The logo of BYD is pictured at the 2022 Paris Auto Show in Paris, France October 17, 2022. REUTERS/Stephane Mahe

SHANGHAI, Jan 1 (Reuters) – Leading Chinese electric car manufacturer BYD Co has adjusted its product prices starting from Jan. 1, citing the impact of reduced subsidies for new energy vehicles since November last year.

Official guidance prices will rise by between 2,000 yuan ($290) and 6,000 yuan for its various models, the company said on its official Weibo account.

($1 = 6.8972 yuan)

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Source reuters.com