Chinese BYD’s 10 thousand dollar ‘Seagull’ will challenge Europe
Chinese BYD, the world’s largest electric vehicle manufacturer, announced that the Seagull (Seagull) hatchback, which it sold for 10 thousand dollars in China, will be launched in Europe next year, and that the model in question will be sold for less than 20 thousand euros ($21,500).
Cheap electric vehicles from China are already making their way into Europe, undermining one of the region’s biggest industries.
BYD Co., which overtook Tesla Inc. late last year to become the largest global electric vehicle manufacturer, is on track to increase its shares.
The Chinese manufacturer last month announced plans to bring its Seagull hatchback to Europe next year. Seagull, which offers premium features such as a rotating touch screen and wireless phone charging, is sold for less than 10 thousand dollars in China.
After tariffs and changes to meet European standards, BYD executives plan to sell Seagull on the continent for less than 20 thousand euros ($21,500).
BYD’s plans for two facilities in the region will help mitigate the effects of European Union tariffs. China made its largest foreign investments in emerging sectors such as batteries and electric vehicles in Hungary. Chinese BYD, the world’s largest electric vehicle manufacturer, opened its first factory in Europe in Hungary.