BYD Refutes Rival GWM's Claims About Emission Tests

According to the report, the whistleblower reported the alleged misconduct to the Ministry of Ecology and Environment, as well as the State Administration for Market Regulation and the Ministry of Industry and Information Technology.

BYD responded to the allegations by stating that it strongly opposes unfair competition and that GWM's test results were invalid because they did not meet the required conditions. According to a BYD statement, the vehicles used for testing were supplied and handled by GWM, and the test was carried out by an organisation designated by GWM, rather than a third party as required by national regulations. As a result, BYD claims that the test results are untrustworthy and cannot be used to support the allegations.

"We welcome authorities to investigate, collect evidence, and conduct inspections at any time," the statement said. The news of the complaint caused both companies' stock prices to plummet significantly. The A shares of BYD fell 2.41 percent, while the Hong Kong-listed shares fell 3.87 percent. Meanwhile, GWM's A and Hong Kong-listed shares fell nearly 6% and 6.6 percent, respectively. BYD's best-selling models are the Qin PLUS DM-i and Song PLUS DM-i, which accounted for more than 30 percent of the company's sales in the first four months of this year.

The Qin PLUS DM-i, in particular, has been a remarkable success story, with 31,734 units sold in April, making it the best-selling sedan that month. The combined sales volume of the two models in the first four months of this year exceeded 24 percent of BYD's total. According to data from the China Association of Automobile Manufacturers, BYD has a 34.3 percent market share in the new energy vehicle market, making it the market leader. GWM, on the other hand, came in tenth place in the same category.