Chinese competitor Tesla has changed its strategy to produce luxury electric vehicles priced above $150,000, with BYD attempting to fill Tesla’s market niche, which is already inferior to that of its Chinese rival in global electric vehicle sales. .
BYD will change its business strategy and focus on producing luxury electric vehicles. The Wall Street Journal writes about this.
The Chinese automaker accepted 135.5 thousand orders for premium electric vehicles until the end of 2023. Prices for the U8 SUV and the U9 supercar exceed $150 thousand.
BYD surpassed Tesla in global sales of electric vehicles in the fourth quarter of 2023. Tesla sold 484.5 thousand cars, BYD – 526 thousand copies. The Chinese market made the largest contribution to BYD’s sales growth.
Author:
Kirill Bilyk
Source: RB
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