BYD has reportedly slashed production levels by more than a third of capacity and cancelled night shifts at more than half of its seven factories in China, as the automaker tackles slowing sales growth and looks to cut its bloated inventories. The electric vehicle giant also put on hold some plans to set up new production lines, a person familiar with the matter told Reuters on Wednesday. BYD’s production growth in April and May had increased at the slowest pace since early 2024, with average output in the two months 29% lower than in the fourth quarter of last year, according to data compiled by the China Association of Automobile Manufacturers. The country’s biggest automaker reported sales of 1.6 million cars from January to May and aims to sell 5.5 million units this year, which would represent a nearly 30% growth from a year ago. [Reuters]
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