Chinese automaker BYD Co Ltd said on Wednesday it raised prices for three of its electric vehicle models by 2,000 yuan ($279.86) to 6,000 yuan, citing reasons including rising battery prices and the scheduled expiration of some state subsidy plans, according to Reuters.

BYD, in a statement published on its official Weibo account, said the national subsidy for some electric and hydro power vehicles will end on Dec. 31, 2022. And the raw material price for batteries has also jumped since the second half of this year, it said.

Source: Azerbaijan State News Agency