From CNBC, March 22:
- The China-built BYD Seagull, a small all-electric hatchback, starts at just 69,800 yuan (or less than $10,000), and reportedly banks a profit for the increasingly influential Chinese automaker.
- There’s fear among global automakers that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.
- “Ultimately the Chinese will come to the U.S.,” said Marin Gjaja, chief operating officer for Ford’s EV unit, during a recent interview with CNBC.
A small electric vehicle is having a big impact on the global automotive industry.
It’s not the EV itself that’s making waves but its price — and its potential to disrupt domestic auto industries around the world.
The China-built BYD Seagull, a small all-electric hatchback, starts at just 69,800 yuan (or less than $10,000), and reportedly banks a profit for the increasingly influential Chinese automaker.
That latter point — EV profits where U.S. automakers have mostly failed to turn any — combined with the expansion of Chinese automakers into Europe, Latin America and elsewhere has automotive executives and politicians, from Detroit and Texas to Germany and Japan, on edge.
The Seagull could be a “clarion call for the rest of the auto industry,” said Terry Woychowski, a former General Motors
executive who now serves as president of automotive at engineering consulting firm Caresoft Global. “It’s a significant event.”
Though the Seagull isn’t yet sold on U.S. soil, BYD is expanding its vehicles globally, and some believe it’s only a matter of time before more China-made vehicles arrive in the U.S....
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