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China automaker BYD says raises prices for some EV models By Reuters

by Reuters
November 23, 2022
in Stock Market
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© Reuters. FILE PHOTO: The logo of BYD is pictured at the 2022 Paris Auto Show in Paris, France October 17, 2022. REUTERS/Stephane Mahe

BEIJING (Reuters) – Chinese automaker BYD Co (OTC:) Ltd said on Wednesday it raised prices for three of its electric vehicle models by 2,000 yuan ($279.86) to 6,000 yuan, citing reasons including rising battery prices and the scheduled expiration of some state subsidy plans.

BYD, in a statement published on its official Weibo (NASDAQ:) account, said the national subsidy for some electric and hydro power vehicles will end on Dec. 31, 2022. And the raw material price for batteries has also jumped since the second half of this year, it said.

($1 = 7.1465 renminbi)



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