HONG KONG -- Chinese electric vehicle leader BYD's profit plunged nearly 30% in the second quarter, marking the first year-over-year drop since 2022, as the EV champion faces more competition from rivals like Geely.
Electric vehicles
BYD profit dives 30% as price war takes toll on EV champion
Sales growth slows sharply in second quarter, with rivals like Geely upping ante
A BYD vessel unloads cars in Santa Catarina, Brazil, in May. © Reuters
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