The European Union has announced an investigation into Chinese electric carmakers. Brussels suspects state help from Beijing is giving them an unfair sales a...
China’s Plans To Win Big EV Sales In Europe Pains Incumbents
Chinese electric car leader BYD unveiled its Seal sedan at the Munich show, and investment bank UBS spelled out the bottom line in a report.
“We believe BYD Seal is not only cost-competitive compared to incumbent legacy brands, but also 15% lower compared to Tesla Model 3. We estimate BYD’s cost is 30% lower than those of western incumbents, allowing it to offer a competitive price in Europe even with tariffs, shipping costs and/or more costly local production,” UBS said.
https://www.forbes.com/sites/neilwinton/2023/09/06/chinas-plans-to-win-big-ev-sales-in-europe-pains-incumbents/