China's EV Market Faces Brutal Test After BYD's Aggressive Price Cuts
The world’s largest auto market is in trouble, and it’s taking some of its noted electric vehicle (EV) makers down with it. Shares of Chinese EV companies took a sharp hit recently, rattled by growing fears of a deepening price war and rising regulatory concerns. BYD Co Ltd. (BYDDY) plunged more than 9% yesterday to close at $107.33, while NIO Inc. (NIO) , XPeng (XPEV) , and Li Auto (LI) also ended the day in the red, down 3.4%, 3.3%, and 2.3%, respectively. This didn’t seem like just another bad day—it loo ...