In the fourth quarter, it became the company selling the most EVs, leaving American EV maker Tesla behind. BYD, which is owned by famous investor Warren Buffett, has also kept the starting price of the new version of its Seal EV low. Last year it had reduced the prices of many of its models. Competition is increasing in the EV segment. To increase its share, many EV companies including Tesla have cut the prices of their models.
BYD has manufactured 70 lakh electric cars. It has achieved this figure with Denza N7 which is sold only in the international market. BYD had manufactured 10 lakh units in May 2021. After this, it was increased three times within 18 months. Last year it had crossed the manufacturing of 50 lakh units. BYD’s Seal EV has received over 500 bookings in 15 days of its launch in India. Its price is approximately between Rs 41 lakh to Rs 53 lakh (ex-showroom). It is available in three variants – Premium, Dynamic and Performance.
Major markets for EV include America and China. However, the tension between these two countries is also affecting their business. China has complained to the World Trade Organization (WTO) regarding America’s Inflation Reduction Act. China says that this act is discriminatory and is harming fair competition. Starting this year, EV buyers in the US will receive tax credits of $3,750 to $7,500 only if the critical minerals or other battery components used in the EV are not sourced from or made by China, Russia, North Korea or Iran. Have made. China’s Commerce Ministry said in a statement that America has made a discriminatory policy for subsidies on EVs under the guise of dealing with climate change.
Gadgets 360 for the latest tech news, smartphone reviews and exclusive offers on popular mobiles. Android Download the app and follow us Google News Follow on.
Electric Vehicles, Manufacturing, Tesla, Profit, Market, Demand, BYD, Sales, Government, Iran, Battery, Revenue, Policy, China, Prices