BYD Shifts Payment Methods, Suppliers Face New Challenges

BYD, a leading Chinese electric vehicle manufacturer, is reportedly shifting its payment methods for suppliers. The company, known for its internal financial notes called Dilian, is moving towards standard methods like commercial paper or bank notes. This change comes after regulators introduced rules requiring automakers to pay suppliers within sixty days and preventing non-cash payments. BYDs decision marks a significant shift away from a system that allowed them to keep costs low but often put suppliers at a disadvantage. The move also comes at a challenging time for BYD, with a decline in sales and profit.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.