TP’s Substack • 5 implied HN points • 02 Mar 24
- BYD has drastically lowered prices on its 2024 models, resetting the market expectations for NEVs in China's EV market.
- BYD's vertical integration and control over the battery supply chain allow it to keep costs lower than competitors and maintain a strong market position.
- Lower costs of batteries and chips have enabled BYD to implement these price cuts and make NEVs more affordable compared to ICE vehicles in China.