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Discover the Chinese electric car under 10 thousand euros that threatens Tesla and European brands – Executive Summary

Discover the Chinese electric car under 10 thousand euros that threatens Tesla and European brands – Executive Summary

The electric car revolution is coming from BYD: The Chinese auto giant has accelerated the manufacture and sale of electric vehicles more than any other brand in recent years around the world, and there is one person responsible for it: Wang Quanfu, founder and CEO of BYD Corporation.

The success of its production is such that there is a new model of the brand that could enter the European market in 2025 with capabilities that threaten Tesla and all European manufacturers: we are talking about BYD Seagull.

BYD, which overtook Tesla as the world's leading electric vehicle maker at the end of 2023, is now ready to up the ante. It is introducing affordable electric cars to Europe, which represents a major blow to one of the region's most dynamic industries.

Last April, the Chinese manufacturer announced its intention to introduce the five-door Seagull model to the European market by 2025, according to the Spanish newspaper “El Economista” – we are talking about an electric car for less than 10 thousand euros, which will pose a threat to the rest of the brands. Commercial.

According to a Bloomberg Línea report, the electric car is equipped with the latest elements, such as a rotating touch screen and a wireless cell phone charger. Even with tariffs and adjustments to comply with European standards, BYD officials remain confident that they will be able to sell the Seagull for less than 20,000 euros in the United States.

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At this price, the electric car will cost thousands of euros less than European electric cars, especially the models used by Stellantis, Renault and other brands to face the energy transition.

Moreover, its imminent arrival exacerbates tensions between European automakers seeking to gain leadership in the post-combustion era. “The anti-subsidy investigation launched by Brussels is unlikely to eliminate the threat,” analysts say.

In this regard, Martin Sander, responsible for Ford Motor’s electric vehicle business in Europe, tells Bloomberg Línea: “We are carefully analyzing this model and other Chinese electric vehicle manufacturers. It is natural for us to be concerned about new competitors entering the market.”

Although Chinese cars have always had a certain “stigma” due to their quality, this new version from BYD has received praise for its construction, design and technology. And it is not an isolated case: the Chinese company is planning to launch a top-of-the-line electric car worth 25,000 euros before its city car, European CEO Michael Shaw confirmed at a sector event in London this month.

BYD's plans to set up two factories in the region will help mitigate the effects of any EU tariffs intended to stand in its way.

In fact, the Seagull is already on a successful path: in Mexico, where the car is called the Dolphin Mini, drivers have lined up to compare the 358,800-peso (€19,780) car since its launch in February, despite spotty charging infrastructure. , which is still in its infancy. “Mexico is not good for us, but in the end we found a lot of demand, and we are very excited about it,” highlighted BYD's Executive Vice President, Stella Li, at an event last week in the Mexican capital, where the choice was made A plug-in hybrid was introduced for the Mexican market. .