Part 3/10:
However, BYD operates under its own set of challenges. The company carries significant amounts of debt, with reports indicating that it can take up to 270 days for suppliers to receive payment. This long cycle reflects the intense price wars within China’s automotive sector, where margins are thin, and competition is fierce. Legacy automakers like GM and Ford have opted to refrain from engaging in the pricing battles that characterize the current Chinese market, resulting in a massive drop in GM's market share, from 4 million vehicles to merely over 1 million.