With EVs starting at around $30,000 (25,000 euros), BYD expects to win over German buyers quickly.
According to BYD’s executive vice president, Stella Li, the company expects to offer electric cars priced between $27,500 and $33,000 (25,000 to 30,000 euros) in Germany.
After dominating in its home market, BYD is looking overseas to drive growth. BYD opened its first manufacturing facility in Thailand, a booming EV sales region, and plans to add more capacity in Hungary, Turkey, Brazil, Pakistan, and Mexico.
There are 27 or so EU countries. Only 3 or 4 of them make cars in any appreciable volume. I wonder if 24 EU countries will be willing to pay German/French/Spanish car companies $45k for a car they can get from a Chinese car company for $30k?
Many countries in the European Union (EU) make car parts, including Germany, Portugal, and Romania:
Germany
Germany is the leading producer of automotive parts and components in Europe. In 2022, Germany exported $62 billion worth of motor vehicle parts, making it the top exporter in the world. Germany is also the EU’s largest exporter of cars.
Portugal
Portugal’s automotive components industry is a growing contributor to the country’s GDP and employment. In 2021, Portugal exported 85% of the components it produced, and the industry accounted for 5.6% of the country’s GDP.
Romania
Romania’s automotive-related exports account for about 15% of the country’s exports, and roughly 10% of its GDP. Germany is Romania’s largest export partner, accounting for 22.9% of its total exports.
Other top automotive suppliers in Europe include: BASF SE, Robert Bosch GmbH, Continental AG, ThyssenKrupp AG, and ZF Friedrichshafen AG.
European consumption of automotive parts and components has slowly come back to pre-crisis levels, after a steep decline in 2010. Most of the demand is still coming from the traditional Western European manufacturers, i.e. Germany, France, Italy, the UK and Spain .
You’re using an AI to simply repeat what I just said above. Only a small number of the 27 (or is it 29?) EU countries have any appreciable auto-related industry. The rest of them may not be willing to pay more for an EU car over a Chinese car. Heck, even in the countries that do have an appreciably large auto industry, many people would still choose to buy a less expensive Chinese made car.
Do not forget that China is currently in or close to a devastating economic nose dive, and the cheaper than world market electric cars for export, and capital to build foreign plants to build same, are all dependent on multiple Chinese political choices that may be quite vulnerable.