• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

BYD says it sets negotiable price cut targets for suppliers

by November 27, 2024
written by November 27, 2024

BEIJING (Reuters) -An executive from BYD (SZ:002594) said on Wednesday the Chinese automaker sets price reduction targets for suppliers when making large-scale purchases but these are negotiable and not mandatory.

The comments from Brand and Public Relations Department general manager Li Yunfei on his Weibo (NASDAQ:WB) account followed reports the Chinese automaker had told a supplier to cut prices by 10%.

He said annual price negotiations with suppliers were a common industry practice.

A screenshot of an email sent by BYD to a supplier asking it to reduce its prices by 10% from Jan. 1 was widely circulated on Chinese social media and reported by outlets including Phoenix Finance.

Li did not refer to the email in his post.

Reuters was unable to verify the email, which was dated Nov. 26. BYD did not immediately respond to a request for comment.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
OpenAI allows employees to sell $1.5 billion stock to SoftBank, CNBC reports
next post
OpenAI employees to sell $1.5 bln in shares to SoftBank- CNBC

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Column-Navigating the brave new world of bond investing – Taosha Wang
    • Investors hope for ‘Santa Claus’ rally as stocks lose steam

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy