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EV models will cost a lot more, Chinese automaker BYD says

Chinese automaker BYD Co Ltd announced on Wednesday that it had increased prices for three of its electric vehicle models by 2,000 yuan ($279.86) to 6,000 yuan.

BYD Co Ltd cited factors such as rising battery prices and the upcoming expiration of some state subsidy plans as the reasons for the price increase.

In a statement posted to its official Weibo account, BYD announced that the national subsidy for a select group of electric and hydro power vehicles will expire on December 31, 2022.

Additionally, it claimed that since the second half of this year, the cost of battery raw materials has increased.


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