China’s BYD increases car prices after subvention cuts

SHANGHAI, (Reuters) – Leading Chinese electric car manufacturer BYDCo has raised its prices beginning January 1, citing the effect of lower subsidies for new-generation vehicles since November.

The company announced on its official Weibo account that the official guidance prices will increase by between 2,000 yuan ($290), and 6,000 dollars for its different models.

($1 = 6.8972 yuan)

(Reporting by David Stanway, Editing by Kim Coghill