BYD is kicking off a price war with gas-powered cars as new lower-priced electric vehicles begin rolling out. After launching the new Qin Plus EV Honor Edition on Monday, BYD said it’s “officially opening a new era of electricity is lower than oil.”
BYD is kicking off a price war with gas-powered cars as new lower-priced electric vehicles begin rolling out. After launching the new Qin Plus EV Honor Edition on Monday, BYD said it’s “officially opening a new era of electricity is lower than oil.”
No way that can release one here in the US for the same price as a 10 year old Camry. Unless the Chinese government is going to pay for 1/2 the cost of the car, we aren’t going to see brand new vehicles selling for $15k.
Even at $15K or $20K, they would be underselling most new EV and ICE models. They’re already looking at opening plants in Mexico: https://www.reuters.com/business/autos-transportation/chinas-byd-plans-new-electric-vehicle-plant-mexico-says-nikkei-2024-02-13/
If the U.S. changes trade rules, they’ll just do what Japanese, S. Korean, and European countries did back in the 80s and start U.S. subsidiaries.
That’s a you problem. The parent comment doesn’t even mention US and it is not the center of the universe. China is one of the top polluter currently, and if they alone phase out ICE cars, it would be a net benefit for the world (if they use renewables).
Not everything has to reach the US to be considered “cheap”. Western news mentioning USD doesn’t mean the company is looking for people in US specifically to buy it. Same as not everyone buying Tesla gets it in local prices abroad.
This announcement coincides with BYD announcing they’re building a plant in Mexico likely targeting the US market, and them running sponsored english articles talking about how they’re beating companies like Tesla in order to drum up demand in the US.
Also I wouldn’t be so sure about this reducing pollution in China as these cars are being discarded like outdated iPhones. https://www.bloomberg.com/features/2023-china-ev-graveyards/
We’re seeing that across my commodity chemical market prices too. The prices China offers seem… literally impossible. We are almost certain that China is paying either all the capital for the infrastructure, or just subsidizing 10x harder than we (US/EU) do.
I witnessed them do the same with photovoltaic cells a decade ago which lead to my wife’s employer shutting down their US manufacturing facility to send it overseas. Nobody could compete with their subsidized solar panels.