BYD slows production, delays expansion at China factories, sources say

Story: BYD has slowed down its production and expansion speed in recent months.

According to two sources close to this issue.

China said that the electric vehicle giant has reduced changes in some factories in its market and delayed its plans to add new production lines.

Decisions may be a sign that BYD’s strong sales growth in the last few years can slow down.

In addition, China’s highly competitive automobile market, even after offering deep price cuts are faced with rising inventory.

Sources, BYD’nin canceled night shifts and some factories at least one -third of the exit, he said.

They added that it was applied to at least four facilities and that BYD had suspended some plans to establish a new production line.

The expansion of BYD in recent years has pushed Tesla to pass as the world’s largest home manufacturer.

He sold 4.27 million cars last year.

The automobile manufacturer has at least seven automobile factories in China and this year, sales aimed at an increase in sales.

Reuters could not determine the exact scale of production reduction and expansion suspension.

He could not find how long these measures could take.

One of the sources said that the moves are aimed at saving costs.

Another said that they were imposed after sale and could not meet the goals.

BYD did not respond immediately to the request for comment.