By GU Lexiao, ZHOU Shuqi
The BYD Seal, a high-performance sports saloon, is now showing at the international motor show in Munich, Germany, with the top of the range version priced 50,000 euros. It's the fifth BYD model on sale in Europe.
The production cost of the Seal is 15 percent lower than the Tesla Model 3 and 35 percent lower than similar models produced by Volkswagen in Europe. The cost advantage is down to three-quarters of the Seal's components being made by BYD.
Chinese EVs are rapidly advancing overseas and by 2030 will increase their global market share from the current 17 percent to 33 percent. Volkswagen is the company most affected by the rise of Chinese EV brands and is desperately pursuing collaborations.
However, most EV companies are still operating at a loss, and they all blame each other. It's called a "competitive market."
Most companies are gambling big on short-term losses in the belief that brand influence will result in long-term success.
