In November 2024, an email reported to come from BYD’s passenger car division asked suppliers to cut prices by 10 percent from January 1, 2025.
Li Yunfei, BYD’s head of brand and public relations, answered that “annual price negotiation with suppliers is an industry practice.” He said the 10 percent target was “not compulsory” and “negotiable.” The report put the industry’s usual annual cut at about 5 percent.