"BYD's Dominance in the EV Market Sparks Price War and Earnings Miss"
BYD, a global leader in electric vehicles (EVs), is ramping up its efforts to dominate the market with plans to more than double its overseas sales this year and reach one million in 2025. The company is set to launch next-gen hybrid technology offering over 1,200 miles of range and aims to undercut gas-powered car sales with its new platform. BYD's CEO believes that EVs and plug-in hybrid electric vehicles (PHEVs) have entered the "knockout round" and is implementing an "overseas + localization" strategy to expand its brand globally.
