BYD Shares Plunge, Hybrid Price Reduction

This is a news story, published by CNBC, that relates primarily to BYD news.

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price cuts

CNBC

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Technology

China's BYD sees shares plunge 8% as EV maker cuts prices

Summary

Nutrition label

82% Informative

Shares in BYD plunged as much as 8.25% , a steep drop from its record high last week .

The company announced that it was reducing the prices on 22 electric and plug-in hybrid models until the end of June .

The price tag of the Seagull hatchback was reduced by 20% to 55,800 Chinese yuan ($ 7,780 ), while that of the Seal dual-motor hybrid sedan was cut by 34% .

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

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Offensive language

not offensive

Hate speech

not hateful