Backlash against BYD’s Chinese price war worsens

BYD's aggressive price cuts of up to 34% are drawing the ire of both industry players and regulators in China, with the automaker's Hong Kong-listed shares falling 17% over the last week alone. One critic, the powerful lobbying group, China Association of Automobile Manufacturers, criticised the “vicious competition” and “disorderly price wars” that threaten the electric vehicle sector's sustainability.