BYD has become a relentless discounter in the price war that Tesla started in the world's largest auto market last year. That aggressive stance has helped it unseat its U.S. rival as the world's biggest seller of electric vehicles, even though most of BYD's cars are sold in China.

BYD Co. has asked suppliers to accept price cuts next year in a signal the Chinese electric vehicle maker is preparing for the brutal price war in the world’s biggest auto market to intensify.

Chinese automaker BYD has set negotiable price reduction targets for suppliers of large-scale purchases, a BYD executive's post on social media platform Weibo shows. The notice was posted on the Weibo account of BYD's Group-Brand and Public Relations Department general manager.

We'll start with BYD and these potential price cuts. What level are we talking about here and what does this mean for both the Chinese EV market and the global? Who would even be riding with its advantages in supply chain and battery technology?