Global Impact | With a price war at home spreading overseas, and a tariff war in the US and EU, China’s EV industry is bracing itself despite new tech roll-out
- Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world
- In this week’s issue, we look at the latest developments with China’s electric vehicle industry
The Qin L and the Seal 06, which can go as far as 2,100km (1,305 miles) with a fully charged battery and a full tank of petrol, both start from 99,800 yuan (US$13,767). The batteries, developed and produced by BYD, offer a driving range of up to 80km on a single charge.
BYD, the world’s largest EV builder, said that the new cars will become benchmarks for mid-size models, ratcheting up pressure on its petrol-powered rivals.
And Morgan Stanley warned that legacy carmaking giants such as Volkswagen and Toyota were likely to cut the prices of their bestselling models, such as the Passat and Camry, in response to BYD’s marketing push.
Deliveries of Qin L and Seal 06, which are more than 40 per cent cheaper than the Passat and Camry, are set to begin soon after the launch.
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‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the global market
