Chinese EV giant BYD is deepening its global push, despite political headwinds, in a bid to cement its dominance in the sector.
The Shenzhen-based company, which last year beat Tesla to be the world’s top EV seller, is filling a void left by Western manufacturers who saw “EVs as a luxury good” and priced them accordingly, The Wire China noted.
By offering more competitive prices, “politics, not market forces,” became the biggest obstacles to Chinese automakers, The Wall Street Journal wrote, as the US and EU threw up trade barriers.
But that may be changing, bolstering BYD’s expansion plans. Canada and Brussels are poised to drop tariffs, and BYD is already making inroads in Mexico despite 50% duties.
