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BYD Yangwang U8 and Fang Cheng Bao 5 are coming to Europe

After seriously threatening the competition in the electric car segment with the BYD Seal and Dolphin models, but also by lowering prices by 15%, the Chinese car manufacturer is now attacking the SUV segment in Europe. Their two new SUV models (Yangwang U8 and Fang Cheng Bao 5) which should arrive on the market soon, will be BYD’s main power in Europe against Land Rover Defender, Mercedes G-Class and Ford Bronco.

Set to debut at the Geneva Motor Show next month, the Yangwang U8 is powered by a 2.0-liter turbo petrol engine paired with four electric motors (one at each wheel) totaling 1,180 hp (833 kW) and 944 lb-ft (1,280 Nm) of torque. moment. It is equipped with a new electronically controlled all-wheel drive system that is 100 times faster than a conventional all-wheel drive system, and a 49 kWh battery that enables a range of 1,000 km (620 mi) (CLTC).

Thanks to electric motors in each wheel, the car can rotate in place like a tank and move sideways to a parking spot. BYD claims that this SUV can float in water for half an hour up to a depth of 1.4 meters, despite its weight of 3.5 tons. When it comes to price, this model costs around 140,000 euros in China.

Fang Cheng Bao 5 is powered by a 1.5-liter 145 kW (194 hp; 197 PS) turbocharged petrol engine combined with two electric motors with a total power of 677 hp (505 kW) and 561 lb-ft (760 Nm) of torque. It is equipped with a 31.8 kWh battery that provides a range of 1,200 km (746 mi) (CLTC), all-wheel drive and accelerates from 0–100 km/h (0–62 mph) in 4.8 seconds. When it comes to price, this model costs around 40,000 euros, which makes it much more affordable than the competition.

BYD aims to be among the top five best-selling brands in Europe by the end of the decade. The construction of a factory in Hungary with an initial capacity of 200,000 units per year will help them in this.

Source: BYD

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BYD Yangwang U8 and Fang Cheng Bao 5 are coming to Europe
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BYD cut prices by 15 percent

China is officially the world’s largest car exporter with 4.91 million vehicles in 2023, which is one million vehicles more than the previous leader, Japan. Their largest car manufacturer, BYD, became one of the top 10 largest manufacturers in the world last year with 3,024,417 vehicles produced. This company is trying to expand its business beyond the borders of China, and their first target is the European market, where they are lagging behind the competition. However, that could change as BYD has decided to cut the prices of its cars in Europe by 15%.

According to sales reports, the Chinese company sold only 4,139 cars in Germany last year, while Tesla sold 63,685 vehicles, and Volkswagen as the market leader reached the number of 519,089 vehicles. BYD’s best-selling model, the ATTO 3, arrived in the EU in 2022 with a price of around 47,000 euros. However, thanks to the new decision, the new starting price of this electric SUV is 39,950 euros, which is less than the competitors Volkswagen ID.4 (43,900 euros) and Tesla Model Y (44,899 euros).

How serious a player BYD is is also shown by the fact that it invests 14 billion dollars in the development of advanced technology, especially the ADAS system, which will make its cars safer on the road. The company also invests in marketing, thus becoming an official partner of UEFA Euro 2024, which will be held in Germany this summer.

Transporting cars to distant markets is currently one of the biggest problems for most manufacturers. BYD also has a solution for that because it has its own transport ship (BYD Explorer No.1) built by a local company, which is currently on its way to Europe with 7,000 loaded cars.

Whether and how much the new decision will affect buyers of new cars in Europe cannot be said with certainty, but in the current economic situation where a large number of the world’s population is, it could be decisive.

Source: BYD

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BYD cut prices by 15 percent
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China is the world’s largest car exporter

Japan has been the world’s largest car exporter for decades, but it was only a matter of time before another Asian giant (China) took over that position. This happened in 2023 when, according to official data, China exported one million cars more than Japan.

The development of the automobile industry in China is expanding, primarily fully electric vehicles, which are killing competition worldwide with low production costs and subsidies provided by the Chinese government. This has led large manufacturers to find partners in China or open their own plants, and increase competitiveness in the world market. “If you can’t beat them, join them.”

China has become a big “problem” for most developed countries that are trying to protect their own car manufacturers. Some of them, like the French one, canceled subsidies on new electric cars produced in China, in order to protect domestic manufacturers. This is also expected from other EU members. According to Bloomberg Intelligence, if the other members adopt the same decision, it could threaten the import of electric cars and small commercial vehicles in the amount of almost 7 billion dollars. The fact that in 2023 it exported 5.26 million vehicles, excluding exports to the USA, shows how serious the success of the Chinese industry is. Chinese manufacturers exported the most cars to Russia and Mexico, but also to Europe.

When it comes to the domestic market, sales of fully electric cars increased by 21% while sales of plug-in hybrid cars increased by 83%. The leader is BYD with 3,024,417 vehicles, making this company one of the top 10 largest car manufacturers in the world. The second largest manufacturer was Chery with 1.88 million cars, while the third was Geely with 1.62 million vehicles. Also, in Q4 of last year, BYD surpassed Tesla in terms of sales of battery vehicles.

Source: Reuters