The company suspended the implementation of plans to create new production lines. The company canceled night shifts and reduced production in a series of businesses. BYD began to increase production from the second quarter of 2023 and in 2024, but this year the tendency has changed.
Reuters states that the production situation is probably related to the growth of unlocked products and the overflow of the manufacturer’s warehouses. This is against the background of the “price wars” with the US.
In this context, it is stated that Chinese automobile vendors encourage automobile manufacturers to create “reasonable” production indicators. Now, BYD is looking for foreign markets to maintain sales and compensate for the weakening of the demand in the domestic market.
Source: Ferra
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