China's BYD sees shares plunge 8% as EV maker cuts prices
FILE PHOTO: The company logo of China's automaker BYD is seen on a car outside its headquarters in China's southern city of Shenzhen.Shares in BYD plunged as much as 8.25% Monday, a steep drop from its record high last week, as investors assessed the Chinese electric vehicle giant's price cuts announced on May 23.The company announced on the Chinese social media platform Weibo that it was reducing the prices on 22 electric and plug-in hybrid models until the end of June.For instance, the price tag of the Se ...