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Caixin

BYD to raise battery prices 20% as lithium costs soar fourfold

Chinese EV giant to cancel pending contracts, potentially hitting other makers

A bus is prepared for delivery the BYD electric bus factory in Lancaster, California, U.S., on July 1.   © Reuters

Chinese electric vehicle and battery maker BYD will increase the price of battery products by at least 20% effective Nov. 1, the company said on Monday in a letter to clients.

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