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The $10,000 BYD Seagull EV is scaring the U.S. auto industry

Teslarati

China is the world’s largest automotive market, and understandably so, an important one for electric vehicle (EV) makers like Tesla. Although competitive Chinese automaker BYD isn’t yet slated to enter the U.S. While BYD said just last month that it has no plans to enter the U.S. BYD last year sold 1.57

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BYD had its slowest profit growth in two years in Q4

Teslarati

Chinese automotive giant and electric vehicle (EV) maker BYD posted its 2023 earnings results this week, with the company reporting its slowest quarterly growth rate in almost two years. In its full-year 2023 earnings report shared on Tuesday, BYD posted an 18.6 The $10,000 BYD Seagull EV is scaring the U.S.

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Nissan and Honda may team up to slash EV prices and take on Chinese automakers like BYD

Baua Electric

Nissan and Honda are considering teaming up to introduce more affordable EVs to compete with Chinese automakers like BYD. The aim is to reduce EV prices as the automakers look to Chinese automakers with low-cost models like BYD. The partnership could include a new EV platform.

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BYD taps US chipmaking giant NVIDIA to power its next-gen EV fleet

Baua Electric

US chip-making giant NVIDIA is expanding ties with several Chinese automakers, including BYD , as the race for the best software and features heats up. BYD will use NVIDIA’s Drive Thor to power its next-gen EV fleet. Building upon its existing collaborations, BYD is going from the car to the cloud.

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Volkswagen to launch new EV platform in China to slash costs and compete with BYD

Baua Electric

To boost sales in the world’s largest EV market and one of Volkswagen’s most important regions, the company is launching a new digital EV platform with China’s XPeng. VW says the EV platform will slash costs as it looks to recapture market share in China. Even Ford’s CEO Jim Farley called BYD’s Seagull “pretty damn good.”

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Europe may slap retroactive tariffs on Chinese EVs

Baua Electric

Possible “remedies” on the table include retroactive tariffs on Chinese EVs. Back in October 2023, Europe launched its formal investigation into the Chinese EV industry, as European companies are struggling to compete with the cheap, high-tech Chinese imports, made by low-cost labor, entering the European Union.

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Renault and VW may partner on low-cost BEV minicar

Baua Electric

Renault confirmed today that it is in talks with Volkswagen to build a BEV minicar for the European market. The urgency is growing as European automakers are being far outdistanced by BYD and Tesla , the latter of which sells more EVs in Europe than any other brand. Get started here. FTC: We use income earning auto affiliate links.