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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. auto market anytime soon , some U.S. auto sector,” the organization writes.

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Tesla & CATL deemed the Power Couple to Recharge the US EV Market: Morgan Stanley

Teslarati

Morgan Stanley analyst Adam Jonas deemed Tesla and CATL the power couple that could recharge the United States electric vehicle (EV) market. In a note released earlier this week, Morgan Stanley writes that the United States is an under-penetrated EV market, whereas China is a fully-penetrated EV market.

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EVs reach 90% market share in Norway as the overall auto market falters – Charged EVs

Baua Electric

of the market, up from 90.1% of the entire auto market. The steady rise of EVs is occurring against a backdrop of slower overall auto sales. The trade group OFV (Norwegian Road Federation) ascribes the ailing auto market to weakness in the broader economy—interest rates are up, and so are prices for food and electricity.

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Reuters: Tesla Has Ditched Its Affordable EV Efforts in Favor of Robotaxis

The Truth About Cars

Affordable EVs seem to be a nut that no automaker can crack, as every promise of a “sub-$30,000” model or similar has fallen through in favor of higher prices. It now seems that Tesla is following suit, despite repeated promises that it would develop a mass-market EV at a reasonable price.

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NIO planning on releasing affordable electric car for European market: report

Teslarati

Chinese electric vehicle manufacturer NIO appears to be preparing to capture some market share from mainstream automakers like Volkswagen. According to recent reports, NIO plans to launch a competitively priced model for the European market at a price tag below 30,000 euros (about $33,060).

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BYD produces 200K units of its most affordable EV 

Teslarati

The BYD Seagull made headlines as one of the most affordable electric vehicles on the market. It debuted at the Shanghai Auto Show in April 2023 with a price tag of $11,300 in China. According to CnEVPost , the BYD Seagull currently has three variants on the market. The base Seagull variant starts at RMB 73,800 ($10,360).

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Hyundai Motor, including Kia top Ford and GM in US EV market with affordable EVs

Baua Electric

Hyundai Motor Group, including Kia, is using affordability to gain market share in the US. With low-cost electric cars, Hyundai Motor , along with Kia, surged past American automakers Ford and GM in the US EV market in the first three months of 2024. FTC: We use income earning auto affiliate links. 361 $43,656 SEL RWD 77.4