BYD is decreasing EV pricing dramatically in Germany in order to maintain its worldwide dominance. The carmaker lowered pricing on its most popular EVs by up to 15%.
BYD cuts EV prices in Germany in overseas expansion
BYD intends to strengthen its dominance in major areas after surpassing Tesla in EV sales in the last three months of 2023.
BYD has reduced costs in Germany, the home of Volkswagen, BMW, and Porsche. According to the German auto weekly Automobilwoche, BYD has reduced EV pricing in Germany by up to 15%.
This includes the company's best-selling Atto 3 (known as Yuan Plus in China). In Europe, the Atto 3 will be on pre-sale in September 2022, with pricing starting at 38,000 euros ($41,700).
According to a recent Automotive News Europe piece, the BYD Atto 3 was priced about 47,000 euros early this year. With a 15% discount, the electric SUV should start at less than 40,000 euros ($43,000).
The BYD Atto 3 has a 60.48 kWh Blade battery with a WLTP range of 420 km (260 miles). The Atto 3 competes in Europe with the VW ID.4 and Tesla Model Y, measuring 4,455 mm (175′′) length, 1,875 mm (74′′) wide, and 1,615 mm (63′′) height.
Volkswagen dropped EV costs earlier this week in order to compete with Tesla. BYD's electric SUV costs 40,000 euros, which is comparable to the ID.4 (43,900 euros) and Tesla Model Y (44,890 euros).
In China, the Atto 3 (Yuan Plus) costs roughly $18,700 (135,800 yuan). In September, the 500,000th unit of BYD's electric SUV went off the assembly line.
BYD is lowering EV pricing in Germany as its first cargo ship arrives this week at Yantai port. The next destination will be BYD's home base in Shenzhen, where EVs will be loaded for shipment to Europe. The BYD Explorer No. 1 will "ensure BYD's rapid delivery and expansion of overseas markets," according to the vessel's builder, CIMC.
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