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.
比亚迪股份有限公司(场外交易代码：BYDDF)是中国最大的新能源汽车(NEV)生产商之一，该公司正在提价。
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.
发生的事情： 沃伦·巴菲特CnEVPost援引比亚迪的话报道，由比亚迪支持的比亚迪计划从2月1日起将其新能源汽车的价格提高到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经支付押金签约的客户将不会受到影响。
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.
比亚迪将涨价归因于原材料价格上涨和新能源汽车补贴减少。中国在去年12月证实，从2022年开始，对新能源汽车的补贴将削减30%，最终将逐步取消。
Related Link: Nio, XPeng, Buffett-Backed BYD Among Top Quality EV Brands In China: Survey
相关链接：蔚来、小鹏汽车-W、巴菲特支持的比亚迪跻身中国最高质量电动汽车品牌之列：调查
Why It's Important: BYD sold 593,745 passenger NEVs in China in 2021, comprising 320,810 BEVs and 272,935 plug-in hybrids.
为什么它很重要：2021年，比亚迪在中国售出了593,745辆乘用型新能源汽车，其中包括320,810辆BEV和272,935辆插电式混合动力车。
BYD's peers, including Nio, Inc. (NYSE:NIO) and XPeng, Inc. (NYSE:XPEV), have also reacted to the NEV subsidy cuts.
比亚迪的同行，包括蔚来公司(纽约证券交易所股票代码：蔚来)和小鹏汽车-W股份有限公司(纽约证券交易所代码：XPEV)，也对新能源补贴削减做出了反应。
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.
据报道，蔚来在去年12月表示，对于那些在12月31日午夜之前下单并在3月31日之前送货的客户，它将吸收旧补贴和新补贴之间的差额。
XPeng models priced below 300,000 yuan — the ceiling for qualifying for subsidy — saw price hikes effective Jan. 11, CnEVPost reported.
据央视报道，价格低于30万元的小鹏汽车-W车型自1月11日起涨价。
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.
电动汽车巨头特斯拉公司纳斯达克(Sequoia Capital：Sequoia Capital)也宣布在2021年底上调其中国制造的Model3轿车和ModelY运动型多功能车(SUV)的价格。
At last check, OTC-listed BYD shares were slipping 1.61% to $32.96.
据最新消息，在场外上市的比亚迪股价下跌1.61%，至32.96美元。
Photo courtesy of BYD.
照片由比亚迪提供。
译文内容由第三方软件翻译。
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