Are the West afraid of Chinese electric cars? BYD CEO Wang Chuanfu said there were many examples of politicians worried about cheap Chinese EVs, with implications for the US and Europe.
BYD says US and Europe concerned about Chinese EVs
“If you’re not strong enough, they won’t fear you,” Wang said at an industry event on Friday. Bloomberg).
“There are many examples of politicians in other countries being concerned about Chinese EVs,” he added, as the US and Europe try to block Chinese EV imports with new tariffs.
The BYD CEO said the tariffs were a testament to the strength of China’s auto industry. Wang’s rebuke of the West came after the United States increased tariffs on Chinese imports, including electric vehicles, batteries and critical minerals.
The EU is also expected to introduce new tariffs targeting Chinese-made EVs soon. European Commission President Ursula von der Leyen said in September that Europe had launched an investigation into Chinese-made EVs, saying “the global market is now flooded with cheap electric cars.”
China has since threatened to retaliate with a 25% tariff on imports as global trade tensions escalate.
BYD, Chinese-made EVs enter global market
BYD launched a series of new low-cost electric vehicle (and PHEV) models last month, helping the company post its second-highest sales ever.
Pricing for the new BYD Seagull, the cheapest EV, starts in China at just $9,700 (69,800 yuan). Even in overseas markets, the “mini Lamborghini” (whose design was led by former Lamborghini designer Wolfgang Egger) remains one of the cheapest electric vehicle options.
In Brazil, the Seagull EV is priced starting at around $20,000 (99,800 Brazilian reals). BYD’s car carrier Explorer 1 arrived at Brazil’s port of Suape earlier this week, unloading 7,000 new energy vehicles (EVs and PHEVs).
The Explorer first arrived in Germany in February with a load of 3,000 vehicles as BYD expands the brand globally.
According to a global data collection company Data ForceChinese-made EVs from companies like BYD and MG accounted for around 9% of all electric vehicles sold in Europe last year, but that number is expected to grow rapidly in the coming years.
European lobby groups Transportation and the EnvironmentChinese-made EVs could account for a quarter of all EVs sold in Europe this year.
BYD overtook VW last year to become China’s top-selling automaker and is aiming to expand into global markets.
Addressing the audience on Friday, Wang said the industry must embrace competition if it wants to make a successful transition to EVs.
Electrek’s take
BYD is rapidly expanding overseas and is already the EV leader in key markets such as Thailand, Brazil, Israel and Colombia.
Despite its low price, BYD’s Segull has been praised by industry leaders, including Ford CEO Jim Farley, who called it a “pretty good” car and warned rivals about BYD’s superior technology.
Even with the tariffs, BYD expects the Seagull EV to be one of the cheapest electric cars in Europe, priced under $21,500 (€20,000). BYD is also planning a premium model for $27,000 (€25,000), according to Michael Xu, BYD’s European managing director.
BYD has two factories planned for the region, which it hopes will help it overcome any potential impact from tariffs on Chinese-made EVs.
While BYD is best known for its affordable EVs, the automaker is also expanding into new areas such as mid-size SUVs, luxury cars and pickup trucks.
BYD last month launched the Sea Lion 07, a rival to Tesla’s best-selling Model Y. Pricing for BYD’s new electric SUV starts at 189,800 yuan ($26,250), lower than the Model Y sold in China, which starts at 249,900 yuan ($34,550).
The company also launched its first pickup truck in Mexico, the Shark PHEV, which will compete with the region’s top-selling trucks, such as Toyota’s Hilux and Ford’s Ranger.
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