BYD to slash EV prices even more with new platform, looks to crush ICE car sales(electrek.co)
electrek.co
BYD to slash EV prices even more with new platform, looks to crush ICE car sales
https://electrek.co/2024/03/11/byds-new-lower-cost-ev-platform-crush-gas-powered-car-sales/
2 comments
Will BYD ever sell in the US? Where are they exporting to? I have a feeling the US auto market isn't going to feel it at all so our legacy automakers will not have to respond in any way to BYD.
The EU.
Xpeng and BYD are getting more and more popular on the streets here.
Tesla are way more visible, the traction for BYD is not massive yet.
Tesla flooded the market in the last two years, and Model Y is the most sold car model in Danish history.
BYD has a sales window inside a major shopping centre in Denmark.
Xpeng have a similar high-exposure shopping window on the city hall square no less
I asked my wife why only Chinese EV makers do this; if that's a good sales strategy, it doesn't make any sense that other EV makers don't do the same. She told me it's just marketing value. It's a big shop-sized ad, rather than an office in the car-selling districts out of town (with parking area for actual cars, where you can also service cars).
So maybe I didn't see a lot of BYD cars on the street yet, but I saw their huge logo and their pretty cars when I went for ice creams in the weekend.
Like a perpetual one-brand car expo.
Xpeng and BYD are getting more and more popular on the streets here.
Tesla are way more visible, the traction for BYD is not massive yet.
Tesla flooded the market in the last two years, and Model Y is the most sold car model in Danish history.
BYD has a sales window inside a major shopping centre in Denmark.
Xpeng have a similar high-exposure shopping window on the city hall square no less
I asked my wife why only Chinese EV makers do this; if that's a good sales strategy, it doesn't make any sense that other EV makers don't do the same. She told me it's just marketing value. It's a big shop-sized ad, rather than an office in the car-selling districts out of town (with parking area for actual cars, where you can also service cars).
So maybe I didn't see a lot of BYD cars on the street yet, but I saw their huge logo and their pretty cars when I went for ice creams in the weekend.
Like a perpetual one-brand car expo.
One of the countries they’re exporting to is Australia and they have already gobbled up a big share of EV sales where I live. Based on my personal observations I see almost as many BYD as Tesla cars, however I suspect that in the last 12 months they’ve outsold Tesla. They are the cheapest EV in Australia at the moment.
im seeing BYD everywhere - and it feels like they just came out of nowhere.
This kind of blows a hole in the old argument that only the rich people wanted EVs, which is why they focused on expensive models. Let's be honest, they knew they would cannibalize their cash cow and didn't want to. Once my girlfriend and I owned an EV there was no going back ever to gas engines.
US legacy auto will have to respond to Tesla, as tariffs will likely keep BYD out of the US (while BYD consumes the rest of global TAM).
> After surpassing Tesla to become the largest EV maker globally in the last three months of 2023, BYD says Tesla is not the competition. It’s gas-powered cars
“The enemy of my enemy is my friend.”
> After surpassing Tesla to become the largest EV maker globally in the last three months of 2023, BYD says Tesla is not the competition. It’s gas-powered cars
“The enemy of my enemy is my friend.”
Yes, but as of yet Tesla isn't selling budget vehicles and have a niche of their own. And unfortunately it seems US auto decided to target the more luxury end of the spectrum and release expensive EVs at the worst possible time.
BYD targets volume, Tesla targets margin. The solution for Tesla to go downmarket is the Model 2 (codenamed Redwood).
https://www.motortrend.com/news/tesla-model-2-model-c-model-...
https://www.motortrend.com/news/tesla-model-2-model-c-model-...
Tesla is the new Solyndra in the making now. Worldwide EV will get swallowed up by Chinese EVs, with BYD currently spearheading that. Tesla will retreat back to USA and hunkered down in America until perish or niched like Segway or Chrysler.
Another way to look at this is BYD targets revenue with profit secondary, Legacy manufacturers target profit with volume secondary, and Tesla targets margin with profits secondary.
If they can hit $25k for a Model Foo that would be awesome :)
Spreading across Europe, South America and Australia, plus India, Thailand, Japan, and of course China. probably missing a few. not like US auto makers have to compete in any of those markets or anything concerning like that.
I think they are building a factory in Mexico.
Meanwhile in Germany you read how our combustion engines are a competitive advantage... Maybe in heavy industrial equipment that can't have off the shelf ones.
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Will they? Large companies have an astonishingly poor track record of even matching new competitors.