Tesla-beating BYD unveils $230,000 supercar and $14,000 hatchback in same week

0
2χλμ.

BYD, the Chinese carmaker that recently overtook Elon Musk’s Tesla in global sales of electric vehicles, has struck fear into legacy automakers. That’s primarily because of its low production costs and inexpensive vehicles, which has the likes of Ford and Stellantis scrambling to become more competitive on price.

But BYD, backed by Warren Buffett’s Berkshire Hathaway, is more versatile than many might realize. The carmaker produces not only ultra-affordable vehicles, but also models all along the price spectrum.

That includes luxury models, such as those under its Yangwang brand. This weekend, BYD officially launched the Yangwang U9, a high-end electric sports car designed to rival Ferrari and Lamborghini.

The vehicle—priced at 1.68 million yuan ($233,450)—can reach 100 km/h (62 mph) in 2.36 seconds and reach a top speed of 309.19 km/h, the company said. It can also spin in place and enter dance mode, as videos posted on social media showed.

The car will be available only in China for now, though traders taking advantage of a loophole have been selling luxury Chinese EVs to overseas customers who view them as status symbols—even in markets where they’re not yet officially available.

On the other end of the spectrum, BYD unveiled this week a lower-priced version of its popular Dolphin hatchback. In 2023, BYD sold 367,419 Dolphin models, up 79% from the previous year. The new version’s starting price is $13,865.

Elon Musk's 'highly competitive' EV rival

Of course, BYD needs to do more than produce a wide range of vehicle types to survive. It faces price wars, a saturated market, and slower EV growth within China. And as it expands internationally, the host of challenges includes trade barriers, regulatory hurdles, and customers’ loyalty to legacy automakers.

While it's working to establish manufacturing in places including Hungary, Thailand, and possibly Mexico—which thanks to a free-trade agreement could serve as a back door to the U.S., much to the alarm of trade groups and lawmakers—in doing so it might encounter labor and supply-chain challenges that are less of an issue in China.

But Musk, who laughed at BYD’s vehicles in 2011, admitted last year that “their cars are highly competitive these days.” And last month, he said of Chinese automakers in general, “If there are no trade barriers established, they will pretty much demolish most other car companies in the world.”

The late Charlie Munger—Buffett’s right-hand man—led the decision for Berkshire to invest in BYD. He then watched the value of Berkshire’s 2008 investment in the carmaker surge from $230 million to $9.5 billion 14 years later.

Munger attributed much of BYD’s success to founder and chairman Wang Chuanfu, whom he described as a “combination of Thomas Edison and Jack Welch,” marveling that he could “look at somebody’s part in the morning…and in the afternoon he could make it.”

“He is a natural engineer and a get-it-done-type production executive,” Munger added, “and that’s a big talent to have in one place.”

Προωθημένο
Αναζήτηση
Προωθημένο
Κατηγορίες
Διαβάζω περισσότερα
Shopping
Europe Rehabilitation Therapy Services Market Growth, Analysis, Size and Forecast 2029
Global Europe Rehabilitation Therapy Services Market, By Service (Europe Rehabilitation...
από sumitm18 2023-07-13 06:08:32 0 4χλμ.
Health
Discovering Cost of IVF in India for Hopeful Parents
In recent years, In Vitro Fertilization (IVF) has emerged as a beacon of hope for couples...
από neelkanthivfcenter 2024-10-25 07:41:51 0 2χλμ.
News
Majhi Ladki Bahin Yojana
महाराष्ट्र सरकार द्वारा जरूरतमंद परिवारों के लिए माझी लाडकी बहीण योजना (Majhi Ladki Bahin Yojana)...
από lokpahal 2025-03-08 07:18:37 0 2χλμ.
News
How Ukraine’s missile onslaught rattled Putin – but failed to wake the West
The US has granted Ukraine permission to fire its Himars rocket launchers at Russian territory...
από Ikeji 2024-06-10 04:28:46 0 2χλμ.
Sports
Victor Drivex 10 Badminton Racket: A Perfect Choice for Every Player
If you are looking for a high-quality badminton racket, the Victor Drivex 10 is an excellent...
από mankritsingh 2024-12-23 17:17:51 0 2χλμ.
Προωθημένο
google-site-verification: google037b30823fc02426.html