BYD, one the leading automakers of China, is on the verge of capturing the electric market. A recent step by BYD to cut the pricing of its top selling electric vehicles results in a new monthly record sales. As there is tough competition in the market, it’s great news for the brand.
Data shows BYD has sold nearly 341,658 new energy vehicles (NEVs) in the last month, which is the highest total monthly sales ever. This record surpassed BYD’s previous monthly sales of 341,043 NEV in December 2023 and raised the sale by 35%from the previous year.
With the starting of “liberation battle” targeting foreign gas-powered cars with lower prices early this year, BYD has been getting a good rise in its sales this time frame. BYD’s cheapest EV, the Seagull starts with just $9,700 in China but in overseas it starts at around $20,000. Other contenders of lower-priced versions of its top selling in the market are Atto 3, Dolphin, and Seal EV.
BYD is also expanding its market in Japan and South Korea to rival the local brands like Toyota and Hyundai. In this row it has just launched its third EV-the Seal with a price tag ¥5.28 million, or around $33,100 in Japan last week.
Known to be a brand of affordable EVs, BYD is not trying to put it’s hand in the other electric vehicles segments. Like luxury, mid-size SUVs, pickups and supercars, with the aim to become a leading brand of electric cars.
The recent activities are of the brands includes a $233,400 new electric supercar Yangwang U9 spotted racing around Nurburgring, in may BYD has also launched the Sea Lion 07 as first medium-sized urban smart electric SUV, starting at 189,800 yuan ($26,250) rivalling Tesla’s Model Y, which cost near 249,900 yuan ($34,550) in China.
In the meantime the new tariff imposed on Chinese imports in Europe will also be quite challenging for BYD. However it will hamper some project of the brand but BYD makes some EVs sold in the EU rather than in China and may be able to absorb the extra duties.
