BYD is going to overtake Toyota and Volkswagen by offering modern cars at a very low price. As Bloomberg writesthe Chinese automaker has slashed prices on more than 100 of its electric and hybrid models.
For example, BYD's new generation Seagull hatchback now costs less than $10,000, and the manufacturer's best-selling electric sedan, the Qin Plus, costs less than $11,000.
BYD has announced the beginning of an era called “electricity is cheaper than oil”, when hybrid and pure electric models become as affordable as traditional models with internal combustion engines, or even cheaper.
In total, BYD has already relaunched more than 70 models with lower prices. According to Bloomberg, only the latest Yangwang supercar, worth 233 thousand dollars, has not become cheaper so far.
By lowering prices, BYD wants to convince drivers to abandon gasoline cars and switch to electric cars and hybrids. Such an aggressive pricing policy poses a real threat to Toyota, Volkswagen, Nissan and other manufacturers.