2024-03-26 19:29:29
As part of a new marketing campaign that claims electricity is cheaper than oil, China’s BYD has slashed the prices of its electric and hybrid models. BYD’s Seagull electric car now costs about $9,950 in China. The brand’s best-selling N Qin Plus sedan comes with the new rebate policy for just over $11,000.
The range of “chaikato” is 305 km, and its maximum speed is 128 km/h. Quite enough for its modest price. Last month, BYD announced it would start selling the Seagull in Mexico for $20,990. Thus, the price increases by more than 100 percent, which is expected to be when it starts to be offered in Europe as well. BYD plans to build factories in Thailand, Brazil, Hungary, Uzbekistan and Mexico.
BYD is profiting even from low end cars like Seagull. The key lies in cheaper battery technology and the fact that BYD controls the entire production process of electric cars, from raw materials, batteries to the finished product.