They don't care that this car model's battery pack is too small - 30kWh, or that it uses sodium-ion battery technology that is not as popular as lithium-ion. They are more interested in the operating range of about 240km/charge, because it suits their daily use needs.
More broadly, if BYD can sell an electric car for less than $10,000, Western competitors have reason to worry about the future.
With price competition, in the last quarter of 2023, BYD surpassed Tesla, becoming the world's largest electric vehicle manufacturer even though most of BYD's sales come from the Chinese domestic market.
Since the beginning of this year, BYD has aggressively reduced car prices, with the Yuan Plus model (sold as Atto 3 in foreign markets) being discounted by nearly 12%, causing the electric car price war in China to intensify. intense.
Other automakers have also reduced vehicle prices this year, including Tesla, Geely, GAC Aion, Leapmotor, and Xpeng.
According to China Commercial Bank International analyst Shi Ji, the price cut will put pressure on BYD's profits, but it could be partly offset by suppliers also cutting prices.
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