An executive from BYD said on Wednesday the Chinese automaker sets price reduction targets for suppliers when making large-scale purchases but these are negotiable and not mandatory.

BYD moves to shield itself from looming US tariffs as President-Elect Trump threatens new import taxes on Chinese, Canadian, and Mexican goods. The China-based EV giant has reportedly ordered suppliers to slash costs by 10% starting in 2025.

Workers work on the assembly line at a factory of vehicle manufacturer BYD Auto in Xi'an, northwest China's Shaanxi Province. File photo: Xinhua. Annual price negotiations with su

Chinese automaker BYD has set negotiable price reduction targets for suppliers of large-scale purchases, a BYD executive's post on social media platform Weibo shows. The notice was posted on the Weibo account of BYD's Group-Brand and Public Relations Department general manager.

SAIC Motor Corp.’s Maxus brand has joined market leader BYD Co. in seeking a 10% price cut from suppliers, another sign China’s auto price war will continue into next year.

Chinas NEV giant BYD is urging suppliers to slash prices by 10% starting January 2025 to sustain its edge in an increasingly competitive market. The move underscores a growing trend of cost reductions as the