FlashFeed

BYD, the world's largest EV maker, reported fourth-quarter profits steeper than expected due to relentless competition and tighter regulation in China. The fierce price war in the electric vehicle sector pressures the company's margins. Growth momentum has stalled amid intense market competition.

BYD Co. reported a steeper-than-expected slump in fourth-quarter profit as relentless competition and tighter regulation in China ramped up pressure on the world’s biggest electric vehicle maker to reignite stalling momentum.