China EV-maker BYD has been grabbing market share from Tesla. Its shares are tanking after price cuts.
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Stock of a Chinese EV-maker that has been grabbing market share from Tesla tumbled on Monday after it announced prices cuts on some models of its cars.
BYD Co.
HK:1211 stock sank 8.5% in Hong Kong on Monday. Its shares are up 59% in 2025, versus a 15% drop for Tesla TSLA. Shares of BYD rivals, Li Auto LI HK:2015 fell over 3%, while bigger losses were seen for Geely Automobile HK:175 slid 9% and Great Wall Motor HK:2333 stock tumbled 8%.
