Posted Mar 29, 2024, 10:37 AM
|
Registered User
|
|
Join Date: May 2017
Posts: 25,048
|
|
BYD is saying ICEV is in the terminal phase. Claiming their third gen platform will let them make major gains.
Quote:
BYD says EVs have entered the ‘knockout round’ with next-gen tech rolling out
...During an investor meeting on Wednesday, BYD’s CEO, Wang Chaunfu, said it will launch its next-gen hybrid tech offering over 1,200 miles (2,000 km) range. We reported earlier this month that BYD looks to crush gas-powered car sales with its newest platform.
...By building nearly all vehicle components, including batteries, in-house, BYD has a major advantage over rivals. BYD can offer low-cost EVs, like the new Seagull, starting under $10,000 (69,800 yuan) and still make a profit.
Its next-gen DM-i system will enable an even more range at a lower cost. According to a new Yicai report (translated), Chaunfu said BYD will launch its next-gen DM-i platform in May.
....Chaunfu added that he believes EVs and PHEVs have “entered the knockout round” and that the next two years will be critical for automakers to scale, reduce costs, and introduce new tech.
As new electric cars roll out in China, BYD sees joint venture brands (overseas automakers) market share falling from 40% to 10%. The 30% offers room for Chinese brands to grow.
....BYD is using an “overseas + localization” strategy to expand the brand. For example, BYD is building a plant in Hungary that will “be Europe, for Europe.” BYD’s European leader said the plant will “be closer to customers, offering faster deliveries, and people will trust us more.”
Chaunfu said BYD aims to sell 500,000 vehicles overseas this year, more than double the 240,000 handed over last year. By 2025, BYD sees overseas sales reaching 1 million.
....after launching in Japan last year, BYD already accounted for 20% of Japan’s EV imports in January, a market dominated by Toyota.
The automaker launched a “liberation battle” with drastic price cuts and new lower-priced models earlier this year.
BYD says its main competition is gas-powered vehicles and joint venture brands. Several of its most popular EVs, including the Dolphin and Seagull, were updated with lower prices. Its cheapest EV, the Seagull, starts at just $9,700.
|
https://electrek.co/2024/03/28/byd-e...ech-launching/
We won't see a lot of this fight play out in Canada. Or the US. Because of the IRA. Doesn't mean the fight isn't happening. Legacy automakers depend on China for profits substantially. Losing share there could put some of them in real trouble. They might not be able to support their current debt levels if they lose substantial marketshare outside their home markets.
But as much as I'm no fan of CCP backed companies, BYD savaging legacy auto was entirely predictable and something several of us here were talking about here years ago. It's something Elon Musk warned about. But people who saw this as some hippie green threat instead of a technological threat dismissed these warnings. And unfortunately for so many workers, some of the most dismissive people were people in the C-suites with Golden parachutes or politicians who will never have to live with the consequences of their rhetoric as they collect generous pensions after their time in office.
|