But if BYD electric vehicles have the lowest operating costs, there should be a market for them
New Energy Vehicles (NEVs) in China
- Thread starter supercat
- Start date
But if BYD electric vehicles have the lowest operating costs, there should be a market for them
Why not buy a Chinese car, when they now know Chinese EV technology is ahead?
No.
Vinfast barely make any cars.
They only sold 36,000 ICE cars in 2021 and lost $1 Billion doing this.
For 2022, they are targeting sales of 42,000 cars in total. But in the first 3 months of 2022, they only sold 505 electric vehicles. That is not a typo.
I count at least 12 Chinese EV automakers who are at least 3x larger in terms of confirmed sales than for all of Vinfast overall.
Where are they going to get low-cost batteries and parts from?
How will they be able to scale up car manufacturing?
Nikkei are comparing Vinfast to Proton, Malaysia's failed attempt to produce a national auto champion. Sources below.
I see Vinfast as an example of flashy marketing without any substance.
asia.nikkei.com/Business/Automobiles/Vietnam-s-VinFast-takes-the-EV-battle-to-Tesla-with-U.S.-push2
asia.nikkei.com/Business/Automobiles/Vingroup-loses-1bn-in-manufacturing-on-poor-sales-of-gasoline-cars
You don't see the pattern? First BYD Yuan to Japan, then BYD Han to Korea. Next up, BYD Han to Vietnam
BYD actually stands for Be Your Daddy
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You are right, it will be a tough market to crack. It doesn't help byd that they are a Chinese company. But if there is a time to enter Japan and establish yourself, this would be it. Japan still does not have a competitive alternative. And if byd gets autonomous driving figured out by 2023, it will be several years ahead of Toyota and Honda in new vehicle technology.
We will see if the self proclaimed environmentalist in Japan make good on their word of being climate fri belt. I always thought they might end up sticking around in japan by building cars for Toyota. We will see if that happens.
I can see the same problem in south Korea. The Koreans think they are the best. Their sales are down close to 50% in china this year. So you know the Koreans are feeling a sore spot from the feeling that china is crushing them in manufacturing. So, for nationalist reasons, I am not sure this is the right time to enter Korea. Although, it seems like byd is going to enter a lot of new markets next year. I don't think they expect them to all succeed.
But they probably feel like they need to do so before legacy automakers come up with better evs.
I would say the real competitor to Vinfast is Evergrande Hengchi, and even then it's not looking good. It's what happens when real estate companies build cars.
Just a little bit update about the sale of Vinfast. They have sold more than 2000 cars in the first half of 2022.
Some years back Evergrande bought NEVS, or at least most of it. NEVS is basically what was left of SAAB after GM sat on it's face. So the company has some expertise.
Korea's Kia is selling quite a few EVs in North America.
supercat
Major
All these markets are quite small compared to China's domestic market, and the European and American markets. That's the reason the export markets are a matter of life and death for Japanese and Korean auto makers, and even a Vietnamese auto maker wants to build a factory in the U.S.You don't see the pattern? First BYD Yuan to Japan, then BYD Han to Korea. Next up, BYD Han to Vietnam
BYD actually stands for Be Your Daddy
BYD just patented a double-stack blade battery:
More Nio dealerships in Europe confirmed: