Story: Byd has slowed down its production and expansion in recent months.
This is based on two sources close to the matter.
They said the Chinese electric vehicle giant reduced changes at some factories in its domestic market and delayed plans to add new production lines.
These decisions may be the potential slowdown in Byd’s strong sales growth over the past few years.
Even after lowering high prices in China’s competitive auto market, it faces rising inventory.
Sources said BYD canceled night shifts and reduced production by at least one third in some of its plants.
They added that the measures have been taken at least four facilities, and Byd has suspended some plans to build new production lines.
In recent years, Bied’s expansion has driven it to surpass Tesla as the world’s largest electric car manufacturer.
Last year, it sold 4.27 million cars.
The automaker has at least seven auto factories in China and has sales this year close to 30%.
Reuters was unable to determine the exact scale of production reduction and expansion suspensions.
It also cannot determine how long these measures may last.
One of the sources said the moves were designed to save costs.
Although another person said that after the sales failed to meet their target, they were imposed.
Byd did not immediately respond to a request for comment.
