BYD is kicking off a price war with gas-powered cars as new lower-priced electric vehicles begin rolling out. After launching the new Qin Plus EV Honor Edition on Monday, BYD said it’s “officially opening a new era of electricity is lower than oil.”
BYD is kicking off a price war with gas-powered cars as new lower-priced electric vehicles begin rolling out. After launching the new Qin Plus EV Honor Edition on Monday, BYD said it’s “officially opening a new era of electricity is lower than oil.”
We’re seeing that across my commodity chemical market prices too. The prices China offers seem… literally impossible. We are almost certain that China is paying either all the capital for the infrastructure, or just subsidizing 10x harder than we (US/EU) do.
I witnessed them do the same with photovoltaic cells a decade ago which lead to my wife’s employer shutting down their US manufacturing facility to send it overseas. Nobody could compete with their subsidized solar panels.