China's BYD posts slowest quarterly profit growth in 2 years amid EV price war

China's BYD posts slowest quarterly profit growth in 2 years amid EV price war

FILE PHOTO: People stand next to BYD Company vehicles, at the 2023 IAA Mobility auto show, in Munich, Germany, September 10, 2023. REUTERS/Angelika Warmuth/File Photo

Chinese electric vehicle giant BYD reported an 18.6% rise in fourth-quarter profit on Tuesday, its slowest since the first quarter of 2022, as EV sales lost momentum in the world’s biggest auto market amid a brutal price war.