Powerhouse EV Company BYD Readies to Enter European Market with Seagull EV Model Priced Below $21K Despite Tariffs

Quick Summary:

BYD Co.(OTC:BYDDF), a leading Chinese electric vehicle manufacturer, is set to launch its budget-friendly electric vehicle in Europe, posing a significant challenge to local automakers.

What Happened: BYD, which overtook Elon Musk‘s Tesla, Inc.(NASDAQ:TSLA) in the last quarter of 2023 to become the largest global EV manufacturer, is planning to introduce its Seagull hatchback in Europe next year.

The vehicle, priced under $10,000, is expected to be sold for less than €20,000 ($21,500), even after tariffs and modifications to meet European standards, reported Bloomberg.

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Category: Technology

Markets: United StatesChinaMexico

Topics: Stories That Matter EVs US88160R1014 Benzinga BYDDF Tech Kaustubh Bagalkote Markets Equities Mobility Chinese EV makers TSLA Global Electric vehicles Asia News

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Article Type: News Report

Published On: 2024-05-22 @ 06:50:37 (1 months ago)

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