BYD: Annual Profit To Fall By Up To One-Fifth In 2017 Owing To Increasing Competition In EV Market

BYD: Annual Profit To Fall By Up To One-Fifth In 2017 Owing To Increasing Competition In EV Market

The China-based auto manufacturer BYD will see its annual profit fall by up to one-fifth during 2017 as the result of rising levels of competition in the hybrid and plug-in elected vehicle markets, company execs recently announced. The rising levels of completion in the hybrid and plug-in electric vehicle (EV) sector follows the recent move by the government of China to announce EV quotas for manufacturers operating in the country. Preceding the implementation of EV quotas, though, the country has also been slowly phasing out direct subsidies for hybrids and plug-in electric vehicles. “BYD, which has invested heavily in […]