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China’s Tesla-beating EV maker BYD has carmakers around the world ‘in a state of shock’ over its prices (fortune.com)

submitted 7 months ago by [email protected] to c/[email protected]

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When China’s BYD recently overtook Elon Musk’s Tesla as the global leader in sales of electric vehicles, casual observers of the auto industry might have been surprised.

But what’s caught other carmakers around the world off-guard is something else about BYD, which is backed by Warren Buffett’s Berkshire Hathaway: its low prices.

“No one can match BYD on price. Period,” Michael Dunne, CEO of Asia-focused car consultancy Dunne Insights, told the Financial Times. “Boardrooms in America, Europe, Korea and Japan are in a state of shock.”

BYD can keeps its costs low in part because it owns the entire supply chain of its EV batteries, from the raw materials to the finished battery packs. That matters because a battery accounts for about 40% of a new electric vehicle’s price.

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[–] [email protected] 58 points 7 months ago (70 children)

Uh... yeah? China beats nearly everyone on price but you don't go there for quality and durability.

[–] [email protected] 39 points 7 months ago (1 children)

That's what the British car industry said in the 60s and 70s about Japanese cars. Everyone bad mouthed anything made in Japan as being poor quality.

The Japanese succeeded through good products and their domestic rivals (in Britain) being arrogant, xenophobic and letting standards slide thinking they were great and couldn't be beaten.

I've a Japanese Honda CRV (ironically built in UK) and a Chinese built MG5 EV. The EV is best built car I've owned in 35 years.

Many established car brands are going to disappear Tesla, I believe, being one.

[–] [email protected] 12 points 7 months ago* (last edited 7 months ago) (1 children)

I once read that the failure of British industrial policy to engage labour as a long term competitive edge instead of a dispensable short term concern saw Germany overtake British car makers. Germany dealt with labour strikes more comprehensively by engaging labour in policy structures. Like including Labour representatives in boardrooms.

I wonder how this may reflect on Chinese / Western competitiveness.

Found the piece: https://www.bbc.com/news/magazine-23406467

[–] [email protected] 8 points 7 months ago

I wonder how this may reflect on Chinese / Western competitiveness.

Sounds like it's almost a 1:1 copy of what happened with the Brits.

For whatever reason, English speakers are easily-duped into thinking non-English speakers can't compete.

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