BYD’s Shares Plummet After Being Reported by Great Wall Motors
On May 25, 2023, BYD shares took a dive in the middle of the trading day. As of the time of publication, BYD’s A-shares have fallen by 0.73%, and H-shares by 1.77%.
This comes after Great Wall Motors issued a statement on April 11, submitting a report to the Ministry of Ecology and Environment, the State Administration for Market Regulation, and the Ministry of Industry and Information Technology. The report claimed that BYD’s Qin PLUS DM-i and Song PLUS DM-i models use standard pressure fuel tanks and are suspected of not meeting standards for whole-vehicle evaporative pollutant emissions. Currently, Great Wall Motors is closely following the progress of the case’s filing and handling.
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In response to this, a BYD employee said that the company is still verifying the matter and has no further news at the moment.