"BYD Co. has called for 10% price cuts from suppliers, reflecting its strategy to brace for intensified price wars amidst a competitive Chinese EV market."
"We put forward price reduction targets to suppliers. They're not mandatory requirements. We can negotiate," said Li Yunfei, ensuring flexibility amidst the cost-cutting measures.
"The ongoing two-year price war in China's auto market has led to consolidation, with smaller players facing significant pressure amidst a wave of industry shifts."
"BYD has emerged from this turmoil stronger, achieving record revenue engagement and overtaking Tesla in revenue for the first time in the latest quarter."
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