<ul><li>BYD, a Tesla rival, cut prices on 22 models, including the Seagull EV, in China's competitive EV market.</li><li>Shares in Chinese EV makers like BYD, Geely, Great Wall Motors, Xpeng, Nio, and Li Auto fell due to concerns about the increased competition.</li><li>The price war in China's EV market, initiated by Tesla last year, is leading to unsustainable losses for many companies as they fiercely compete for market share.</li><li>Despite price cuts, BYD's sales have been booming this year, surpassing Tesla in Europe, and the company is set to sell over 5 million cars in 2021.</li></ul>

BYD just fired another shot in China's EV price war — and investors are worried

Discover more