China's EV price war intensifies as BYD cuts prices on 22 models, causing sharp declines in the stock of major competitors like Tesla's rivals. Investors are anxious as the competition heats up in the world's largest auto market.
Chinese EV maker BYD has overtaken Tesla in annual revenue, reporting a 29% increase to 777 billion yuan. With new lower-priced models and advanced technology, BYD is poised for growth amid Tesla's controversies and market challenges.
