TOKYO — China is tackling the cash flow crisis at smaller companies by pressing their big clients to pay bills faster, starting with the EV industry, where leader BYD may be headed toward a steep cost increase.
BYD released a short statement on social media Wednesday morning saying that, in response to requests from the state, it will shorten the deadline for payments to suppliers to within 60 days. The payment period had been over 200 days in some cases.
