Chinese Company BYD Flooding Markets with its Cheaper EV Cars
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Apple Secretly Worked With China’s BYD on Long-Range EV Battery
FROM THE ARCHIVES - RELATED CONTENT ON THIS BLOG MAY 2023
Hint: BYD EVs are cheaper
08 September 2023
China’s BYD, or Build Your Dreams
“It’s a unique sensation, a feeling of belonging to a vibrant and emerging community,..”
Now that it’s the juggernaut in the Chinese EV scene, BYD is looking to grow its overseas sales and improve its margins. A Chinese government-affiliated think tank estimated the company’s profit per car sold was only around 12% that of Tesla last year. The Atto 3, launched in 2022, was the company’s first model specifically developed for markets outside China. The car is now on sale in India, Japan, Sweden, Australia, Brazil, and dozens of other countries.
The Atto 3’s interior, created by a former Mercedes-Benz designer, has what BYD describes as a “sporty” look, with the dashboard curves representing muscle fibers and the air vents mimicking dumbbells. The company calls the car’s design “avant-garde.” Reviewers have said it is “quirky,” “a little bit mad,” and “borders on surreal.”
Despite some skepticism, the Atto 3 has been a modest sales success thanks to its low price, roomy interior, and comfortable ride. In Thailand, Singapore, Israel, and New Zealand, the car holds or has held the title of top-selling EV model in the past year.
Now that it’s the juggernaut in the Chinese EV scene, BYD is looking to grow its overseas sales and improve its margins. A Chinese government-affiliated think tank estimated the company’s profit per car sold was only around 12% that of Tesla last year. The Atto 3, launched in 2022, was the company’s first model specifically developed for markets outside China. The car is now on sale in India, Japan, Sweden, Australia, Brazil, and dozens of other countries.
The Atto 3’s interior, created by a former Mercedes-Benz designer, has what BYD describes as a “sporty” look, with the dashboard curves representing muscle fibers and the air vents mimicking dumbbells. The company calls the car’s design “avant-garde.” Reviewers have said it is “quirky,” “a little bit mad,” and “borders on surreal.”
Despite some skepticism, the Atto 3 has been a modest sales success thanks to its low price, roomy interior, and comfortable ride. In Thailand, Singapore, Israel, and New Zealand, the car holds or has held the title of top-selling EV model in the past year.
. . .BYD is itself a trailblazer. The company only began making cars in 2003, and was one of the first to use electric power-trains and phase out purely gas-powered models. As the world shifts to EVs, that strategy is paying off. In the first quarter of 2023, BYD was responsible for 12% of all passenger car sales in China, ending Volkswagen’s 15-year reign as the country’s most popular car brand. If you include plug-in hybrid vehicles, BYD is already the world’s best-selling EV company.
Now, BYD is trying to expand that success beyond China’s borders.
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