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BYD takes over as China’s largest auto group with low-cost EVs dominating the market

Baua Electric

After overtaking SAIC, BYD is now China’s largest auto group. BYD tops SAIC to become China’s largest auto group After sales surged by 62%, with over 3 million vehicles sold last year, BYD officially became China’s best-selling brand. BYD is now China’s largest auto group after topping SAIC in September sales.

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BYD is ‘just getting started’ in Europe with plans to triple its EV market share

Baua Electric

Europe is much different from other key auto markets like China or the US, with several legislations and languages. BYD aims for a 5% share of EV sales in Europe, even before production begins in Hungary. The facility will build electric cars with battery packs built in Hungary. FTC: We use income earning auto affiliate links.

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BMW begins EV battery buildout ahead of next-gen Neue Klasse EVs

Baua Electric

BMW cylindrical battery cells The first Neue Klasse model, and SUV previewed by Vision Neue Klasse X concept , is scheduled to start production in Hungary in 2025. The post BMW begins EV battery buildout ahead of next-gen Neue Klasse EVs appeared first on Bauaelectric Auto News. That will be preceded by European production.

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BYD overcomes China’s intense EV price war as record car sales lead to Q2 profit surge

Baua Electric

Despite slashing prices and launching more affordable EVs, BYD’s bottom line nearly doubled from the first three months of 2023 (+98%). BYD Seal test drive in Mexico (Source: BYD) Low-cost EVs, overseas expansion fueling growth BYD’s auto (and related) sales accounted for 76% of revenue, generating RMB 228.3 billion) in Q4 2023.

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BYD surges past Honda and Nissan’s sales for the first time, targets Ford with low-cost EVs

Baua Electric

Affordable EVs driving demand According to MarkLines (via Nikkei ), BYD’s new vehicle sales climbed 40% between April and June to 980,000. A big part of BYD’s surging sales numbers is its incredibly affordable electric cars. BYD’s growing global presence is symbolic of the auto industry’s shift to electric. Can it overtake Ford?

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BYD sold over 500,000 vehicles for the first time in October: Is it enough to take the EV crown?

Baua Electric

Although best known for its ultra-affordable EVs (like the $10,000 Seagull ), BYD is quickly expanding into new segments like pickup trucks, luxury models, and smart electric SUVs. With a wave of new models hitting China’s auto market, many domestic automakers are looking overseas for growth. appeared first on Bauaelectric EV News.

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BYD to kick off EV production at new Thailand plant in Q3 as overseas expansion accelerates

Baua Electric

BYD set to begin EV production in Thailand in Q3 After showcasing its full range of brands at the Bangkok Auto Show this week, BYD said it will kick off EV production in the country in Q3. BYD is pressuring legacy automakers after slashing EV prices and introducing a series of more affordable “Honor Edition” models.