BYD, a Chinese electric vehicle manufacturer, is making waves in the EV market with its recent price cuts and expansion overseas. The company recently launched its most affordable EV in Europe, the Dolphin Surf, starting at around $25,000. This move comes after China warned that BYD’s price cuts were creating “war panic” in the domestic market.
The Dolphin Surf is the European version of BYD’s best-selling EV in China, the Seagull. The Seagull, which was already priced under $10,000 in China, saw another round of price cuts last month, bringing its price down to just $7,800. BYD’s aggressive pricing strategy has raised concerns in China, but the company is now turning its attention to overseas markets.
In the UK, BYD outsold Tesla last month, registering 3,025 vehicles compared to Tesla’s 2,016. The company’s success in Europe is expected to continue with the introduction of the Dolphin Surf, which is among the cheapest cars in the UK.
The Dolphin Surf offers a range of 203 miles in its base model and up to 305 miles in the longer-range variant. Both models come equipped with tech and features typically found in more premium vehicles, such as a 10.1″ rotatable touchscreen and smart driving capabilities.
BYD’s executive vice president, Stella Li, sees compact cars as the next frontier for electrification in Europe. The company’s expansion into overseas markets is part of a larger strategy to drive growth in the coming years. BYD is expected to more than double its sales in Europe in 2025 and could reach sales of 400,000 units by 2030.
By manufacturing nearly all vehicle components in-house, including batteries and powertrains, BYD is able to offer electric vehicles at a lower cost while still turning a profit. The company’s decision to stop producing gas-powered vehicles in 2022 is already paying off as it emerges as a global threat in the EV market.
As demand for affordable and efficient electric cars continues to grow, BYD is poised to be a brand to watch in the coming years. Its success in Europe and other overseas markets is a testament to its innovative approach to EV manufacturing and pricing.
