GUANGZHOU -- China's electric vehicle makers are struggling to break their dependence on dwindling government sales incentives, with leader BYD announcing a hefty decline in net profit for 2018 on March 27 as the automaker spent heavily to keep prices attractive.
Electric cars in China
China's green-vehicle makers feel the blues as subsidies ebb
BYD's profit drops as automakers bleed cash to keep prices low amid rising sales
Chinese automaker BYD cited the withdrawal of government sales incentives as a factor in its 31% profit decline for 2018. (Photo by Takashi Kawakami)
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