BYD shares slide as China's EV price war hits profits

Shares in Chinese electric vehicle maker BYD slid by as much as 8% on Monday after it reported a drop in profit because of a price war in China's car sector. BYD's “surprising” performance suggests that even the leader of China's EV sector won't necessarily win from a "cut-throat" price war, said industrial policy expert Prof Laura Wu from NTU in Singapore.

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