Why Warren Buffett-Backed BYD Is Raising NEV Prices In China
Why Warren Buffett-Backed BYD Is Raising NEV Prices In China
BYD Company Ltd. (OTC:BYDDF), which is among the top new energy vehicle, or NEV, producers in China, is raising its prices.
What Happened: Warren Buffett-backed BYD is planning to raise prices of its NEVs between 1,000 yuan and 7,000 yuan ($158-$1,105), effective Feb. 1, the CnEVPost reported, citing the company.
Those customers who have already paid a deposit to sign up by the date will not be affected.
BYD attributed the hike to the increase in raw material prices and the reduction in NEV subsidies. China confirmed in December that subsidies on NEVs will be slashed by 30% beginning in 2022 before eventually being phased out.
Related Link: Nio, XPeng, Buffett-Backed BYD Among Top Quality EV Brands In China: Survey
Why It's Important: BYD sold 593,745 passenger NEVs in China in 2021, comprising 320,810 BEVs and 272,935 plug-in hybrids.
BYD's peers, including Nio, Inc. (NYSE:NIO) and XPeng, Inc. (NYSE:XPEV), have also reacted to the NEV subsidy cuts.
Nio reportedly said in December it will absorb the difference between the old subsidy and the new subsidy for those customers who place preorders before midnight on Dec. 31 and take delivery before March 31.
XPeng models priced below 300,000 yuan — the ceiling for qualifying for subsidy — saw price hikes effective Jan. 11, CnEVPost reported.
EV giant Tesla, Inc. (NASDAQ:TSLA) also announced price increases for its made-in-China Model 3 sedan and Model Y SUV at the end of 2021.
At last check, OTC-listed BYD shares were slipping 1.61% to $32.96.
Photo courtesy of BYD.
BYD Company Ltd. (OTC:BYDDF), which is among the top new energy vehicle, or NEV, producers in China, is raising its prices.
比亞迪股份有限公司(場外交易代碼：BYDDF)是中國最大的新能源汽車(NEV)生產商之一，該公司正在提價。
What Happened: Warren Buffett-backed BYD is planning to raise prices of its NEVs between 1,000 yuan and 7,000 yuan ($158-$1,105), effective Feb. 1, the CnEVPost reported, citing the company.
發生的事情： 沃倫·巴菲特CnEVPost援引比亞迪的話報道，由比亞迪支持的比亞迪計劃從2月1日起將其新能源汽車的價格提高到1000元到7000元(158美元到1105美元)。
Those customers who have already paid a deposit to sign up by the date will not be affected.
那些在截止日期前已經支付押金簽約的客户將不會受到影響。
BYD attributed the hike to the increase in raw material prices and the reduction in NEV subsidies. China confirmed in December that subsidies on NEVs will be slashed by 30% beginning in 2022 before eventually being phased out.
比亞迪將漲價歸因於原材料價格上漲和新能源汽車補貼減少。中國在去年12月證實，從2022年開始，對新能源汽車的補貼將削減30%，最終將逐步取消。
Related Link: Nio, XPeng, Buffett-Backed BYD Among Top Quality EV Brands In China: Survey
相關鏈接：蔚來、小鵬汽車-W、巴菲特支持的比亞迪躋身中國最高質量電動汽車品牌之列：調查
Why It's Important: BYD sold 593,745 passenger NEVs in China in 2021, comprising 320,810 BEVs and 272,935 plug-in hybrids.
為什麼它很重要：2021年，比亞迪在中國售出了593,745輛乘用型新能源汽車，其中包括320,810輛BEV和272,935輛插電式混合動力車。
BYD's peers, including Nio, Inc. (NYSE:NIO) and XPeng, Inc. (NYSE:XPEV), have also reacted to the NEV subsidy cuts.
比亞迪的同行，包括蔚來公司(紐約證券交易所股票代碼：蔚來)和小鵬汽車-W股份有限公司(紐約證券交易所代碼：XPEV)，也對新能源補貼削減做出了反應。
Nio reportedly said in December it will absorb the difference between the old subsidy and the new subsidy for those customers who place preorders before midnight on Dec. 31 and take delivery before March 31.
據報道，蔚來在去年12月表示，對於那些在12月31日午夜之前下單並在3月31日之前送貨的客户，它將吸收舊補貼和新補貼之間的差額。
XPeng models priced below 300,000 yuan — the ceiling for qualifying for subsidy — saw price hikes effective Jan. 11, CnEVPost reported.
據央視報道，價格低於30萬元的小鵬汽車-W車型自1月11日起漲價。
EV giant Tesla, Inc. (NASDAQ:TSLA) also announced price increases for its made-in-China Model 3 sedan and Model Y SUV at the end of 2021.
電動汽車巨頭特斯拉公司納斯達克(Sequoia Capital：Sequoia Capital)也宣佈在2021年底上調其中國製造的Model3轎車和ModelY運動型多功能車(SUV)的價格。
At last check, OTC-listed BYD shares were slipping 1.61% to $32.96.
據最新消息，在場外上市的比亞迪股價下跌1.61%，至32.96美元。
Photo courtesy of BYD.
照片由比亞迪提供。
譯文內容由第三人軟體翻譯。
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