Chinese EVs are 5x cheaper than American ones

Cheap EVs from China could revolutionize the market (not only) in the US. BYD, for example, with the $10,000 Seagull, offers stylish design, advanced safety features and innovative infotainment at a price that's more than $50,000 less than the average U.S. electric vehicle. Traditional automakers must accelerate innovation to remain competitive. Read more at 🇬🇧

Chinese automaker BYD is launching the Seagull electric vehicle for less than $10,000, posing a challenge to U.S. automakers such as Ford and GM. The model delivers stylish design, advanced safety features and an innovative infotainment system at a price that’s more than $50,000 less than the average U.S. electric vehicle. BYD, the automaker that has overtaken Tesla to become the largest electric vehicle manufacturer in the world, is poised to transform the U.S. electric vehicle market along with other Chinese manufacturers. That’s motivating updated strategies in Detroit, where automakers are trying to develop cheaper EV models for average Americans. Ford CEO Jim Farley warns of losing up to 30% of revenue if U.S. companies are unable to compete with Chinese EVs in the global market. Imports of cheap Chinese EVs have so far been hampered by import tariffs and political barriers, but their arrival in the U.S. market is expected to be inevitable. 🌍🚗

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