Why a small China-made EV has global auto execs and politicians on edge
Why a small China-made EV has global auto execs and politicians on edge
The China-built BYD Seagull, a compact all-electric hatchback, starts at just 69,800 yuan (or less than $10,000).
I absolutely hate Chinese car manufacturers, but they made it clear that western car makers don't want to create affordable EVs.
Well R&D costs a ton of money
The reason why Chinese ones are so cheap is that the government is subsidizing them
BYD also owns the entire supply chain, from lithium mines to battery manufacturing to car assembly to sales. Nobody else can do that right now.
And China has the overwhelming advantage in lithium supply to the rest of the world.
IIRC it’s not R&D that is the main cost of EVs these days, but the cost of the batteries themselves is still absurdly high. It’s down to $139/kWh as of Nov 2023, but keep that in perspective of an EV: a 72 kWh battery is $10k in raw material costs alone. I think I remember seeing a quote that affordable EVs (unsubsidized) can’t become a realistic goal until lithium prices break the $100 threshold.
That and the fact that a lot of auto makers in the US only want to make luxury EVs.
It's almost like the US has spent billions developing electric cars that the Chinese manufacturers don't have to spend on.
🤔
Chinese companies see lots of funding from their government in specific fields.
Same from any nation really, but don't think the ticket price isn't reduced from those subsidies / donations / how ever you want to paint it.
I believe the EU are planning to tax Chinese made vehicles based on how much support they are receiving from their government.
https://fortune.com/2024/03/07/eu-nears-hitting-chinese-evs-with-additional-tariffs/
Even if this car was $20000 in the USA, it would still be the cheapest EV sigh If only
If these are allowed by the Canadian government, I will sell my BMW and buy a Seagull.
Any timeline for Australian launch?