GUANGZHOU — Chinese electric vehicle leader BYD will raise prices of electric vehicles and plug-in hybrid cars domestically on Jan. 1 in response to soaring raw material prices for batteries and as government subsidies run out at the end of the year.
The price increase ranges from 2,000 yuan to 6,000 yuan ($280 to $840) and targets such models as the Dynasty and Ocean series, which encompass the company’s mainstay electric vehicles and plug-in hybrid vehicles. BYD announced the hike on the social networking site Weibo.