(Bloomberg) -- BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday, as investors digested the auto giant’s sweeping price cuts of as much as 34% late last week.Most Read from BloombergNY Private School Pleads for Donors to Stay Open After Declaring BankruptcyUAE’s AI University Aims to Become Stanford of the GulfNYC’s War on Trash Gets a Glam SquadPacific Coast Highway to Reopen Near Malibu After January FiresShares of China’s No. 1 selling car brand tumbled as much as 8.3%,
  • Yawweee877h444@lemmy.worldEnglish
    6·
    3 days ago

    Hmm. I know jack diddly about wall street.

    So the reduced price represents at minimum a short term loss in profits.

    But wouldn’t this potentially mean longer term increase in profits due to more purchases? Idk…

    Regardless, good on BYD. Cheaper EVs for the people, fuck the shareholders.

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