BYD’s prowess in building cheaper cars — its Seal EV costs around $12,000 — and advancing technology like its “God’s Eye” self-driving software has made the company’s cars a compelling option in China’s highly competitive auto market.
Over the weekend, BYD launched a new sedan, dubbed the Qin L, that would take on Tesla’s Model 3. The Qin L features the God’s Eye self-driving feature, has a range of 545 kilometers (approximately 340 miles), and would start at 119,800 yuan ($16,524), or half the cost of the Model 3.
European brands make up the bulk of EV sales on the continent, but Chinese EV makers are gaining ground, despite the duties the Commission slapped on made-in-China electric vehicles last year.
BYD, the world’s largest EV manufacturer, saw 4,400 vehicles registered in February, a 94 percent year-over-year increase.
Is it anti Musk backlash or just the Chinese product is taking business away from TSLA due to better pricing, quality, battery etc? To much politics and spin today and getting tired of trying to figure what the truth is…doc
It may be both. I know I looked at one of the BYD models/specs last year and thought that might be the way I go with an EV for pricing, battery, and seeming reliability. I was hoping we’d go a little more toward a “free trade” policy, but alas, it looks like just the opposite now.
I don’t think the Chinese care two wits about Musk. However, several keen observers on this board have been pointing out for sometime now about ways in which Tesla has been squandering its EV lead.
Specifically, it was noted Tesla has a limited variety of models that are long overdue for a refresh. It should be said the Model Y refresh was just released and getting good reviews, but it is still a lot like the old Model Y. The Cybertruck is of course new last year, but is an extremely niche vehicle not designed to appeal to the mass market (and unavailable in China, as far as I know). The other models are getting long in the tooth.
For some reason, Tesla abandoned or postponed plans for a lower cost, mass market car. That’s the segment where Tesla is really taking it on the chin in China, but it also seems like an overlooked portion of the US market. There are 100% tariffs against Chinese EVs in the US, so it should be wide open.
I first became aware of BYD in 2008 when Berkshire Hathaway began accumulating shares (it has been trimming back recently). Charlie Munger absolutely gushed about the genius of BYD CEO Wang Chuanfu, which is something Munger did not normally do.
BYD uses lithium iron phosphate battery technology, which is less energy dense than Tesla’s nickel-manganese-cobalt batteries, but is cheaper, simpler, and more reliable. BYD’s fast charging technology also appears to be superior to Tesla’s.
BYD’s autonomous driving package–which includes LIDAR–is included in all its vehicles. Tesla by contrast charges extra for FSD and I understand some features are not yet available in China. Tesla vehicles do not feature LIDAR, which most experts agree is a limitation.
I’ve never seen or driven a BYD vehicle, so I can’t comment first hand, but on paper BYD seems to have an all around superior product based on price and features.