this post was submitted on 29 Jan 2024
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Electric Vehicles

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BYD is coming for Europe—but high labor costs, connectivity issues, and stubbornly loyal customers might trip up the Warren Buffett-backed EV maker that’s leaving competitors in a ‘state of shock’ (fortune.com)
submitted 9 months ago* (last edited 9 months ago) by MicroWave@lemmy.world to c/evs@lemmy.world
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If you asked the typical European or American about BYD a couple of years ago, only the biggest petrol-head or an astute follower of Warren Buffett’s portfolio could have given you a confident answer on what the company does.

It’s taken a brutal price war with Elon Musk and an ascension to the top of the Chinese car pyramid to change that. Now that it’s left competitors in a “state of shock,” BYD has become hard to ignore.

However, as BYD fights a declining share price, Europe’s automakers have a few reasons to be optimistic that they will fare better in a battle on home soil.

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[–] Ramenator@lemmy.world 31 points 9 months ago (1 children)

Honestly, if they shake up the market and force the European manufacturers to produce cheaper EVs I'm all for it

[–] evenglow@lemmy.world 26 points 9 months ago (1 children)

They already shook up the industry. This is why auto makers are interested in making EVs after decades of telling people that they don't want EVs. China, the world's largest car market, is saturated with EVs. Now China is exporting to countries that don't have as many EVs as China.

It's very similar to what Toyota did decades ago. Create a good product and expand.

[–] mojofrododojo@lemmy.world 2 points 9 months ago

saturated

the market is, but the uptake is still ongoing. will be very interesting to see how their power distribution infrastructure adapts to the uptake.