China’s $10,000 EV Is Coming for Europe’s Carmakers
BYD’s Seagull hatchback is set to start Europe sales next year, beating the competition on price
A BYD Co. Seagull EV during the Beijing Auto Show.
Photographer: Qilai Shen/BloombergCheap electric vehicles from China are already pushing into Europe, undercutting one of the region’s biggest industries. BYD Co., which overtook Tesla Inc. late last year as the biggest global EV maker, is about to raise the stakes.
The Chinese manufacturer announced plans last month to bring its Seagull hatchback to Europe next year. The car offers premium features like a rotating touch screen and wireless phone charging and sells for less than $10,000 in China. Even after tariffs and modifications to meet European standards, BYD executives expect to sell the Seagull for less than €20,000 ($21,500) on the continent.