BYD has been competing with Elon Musk’s Tesla to be the world’s biggest seller of EVs. The US giant reclaimed the title earlier this month after losing out to its Chinese rival at the end of last year. BYD and its rivals have been involved in a price war in China, as they compete for market share at a time of slower economic growth. The company, which is backed by veteran US investor Warren Buffett’s Berkshire Hathaway, has cut prices on some of its latest models as it tries to attract buyers who have been more cautious when it comes to big ticket items such as cars. Chinese car giant BYD has seen profits fall as it is hit by slowing demand for electric vehicles (EV) and a price war in the world’s largest car market. Will the world go completely green ?
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