Despite a July slowdown, BYD retains its lead in China’s competitive EV market.
Anna Barclay | Getty Images News | Getty Images
Hong Kong-listed shares of BYD fell by as much as 7.87% on Monday after the Tesla rival reported a quarterly profit drop amid an aggressive price war across its domestic industry.
The Chinese electric vehicle maker on Friday reported profits of 6.4 billion yuan ($891 million) for the June quarter, down about 30% from a year earlier, despite an expansion in sales overseas.
