Overview

• A UBS survey finds only 14% of Chinese EV buyers now rank Tesla as their top choice, down from 18% last year, with BYD leading brand preference in the world’s largest market.
• BYD announced across-the-board price cuts of up to 30%, cutting its Seagull hatchback to 55,800 yuan and prompting follow-on discounts from competing manufacturers.
• Data from JATO Dynamics shows BYD registered 7,231 EVs in Europe in April versus Tesla’s 7,165, marking the first time the Chinese automaker outsold its U.S. rival on the continent.
• Nomura reports that average retail EV prices in China have fallen by about 19% over the past two years, intensifying competition and sparking warnings of industry consolidation.
• While BYD and other Chinese brands expand rapidly in markets from the UK to Brazil, U.S. and EU import duties and shifting American policy have constrained the entry of low-cost Chinese EVs into North America.