Visitors test drive a car produced by Shenzhen-based maker of electric vehicles BYD Co. at an auto show in Beijing last week. BYD’s Hong Kong and Shenzhen-listed shares dropped sharply yesterday after two brokerages, which had been bullish on the firm, cut their rating to the equivalent of neutral. That followed at least another downgrade last week. Investors and analysts alike are losing faith in BYD’s ability to thrive with fewer government subsidies and growing competition, with the firm last week predicting first-half profit may tumble as much as 83 percent. Xinhua |