BYD Could Topple Tesla as EV Leader
Tesla has acquired the reputation of being the world’s most popular electric vehicle (EV) brand. Nevertheless, this position has been recently put in jeopardy, particularly when its market performance in Q3 was revealed. Indeed, Chinese automaker BYD was close to overtaking Tesla; there were only 3,000 vehicles separating them. In response to this situation, Tesla has taken measures to assert its dominance by planning to offer a wider range of models and prices for consumers across the globe, China included.
The BYD Yuan UP could be precisely what is required for the company to bridge that gap – or potentially propel it way ahead of the competition presented by Tesla.
As originally reported by CarNewsChina, images of the Yuan UP have emerged from documents connected to China’s Ministry of Information Technology. This agency is the last checkpoint in approving vehicles for sale in the country. Obviously, this will not be welcomed news for vehicle manufacturers; however, car enthusiasts are thrilled about it. It provides them with an opportunity to view a vehicle’s completed form and its specs even before it goes on sale.
At just 4.3m long, the BYD Yuan UP approximates to 169 inches, give or take a few, putting its size comparable to that of the Chevrolet Trax. One motor is all it takes to generate either 93 or 174 horsepower, as is the same with all electric cars within the Chinese market.
The Yuan UP appears to be making use of a similar powertrain as the ever-popular BYD Dolphin range. Taking this into account, the SUV is likely to be a more affordable alternative compared to the higher-spec Model Y and Model X. Although it’s not in direct competition with the other models, it could still offer drivers an attractive product offering. As such, the Yuan UP may just have what it needs to become a decisive success among value-seekers.
It is clearly visible that SUVs are growing in popularity globally, particularly on a smaller scale. Furthermore, BYD’s Dolphin and Seagull models have proven to be incredibly sought-after; since their debut in March, BYD has produced over 200,000 of the latter and over 500,000 of the former, demonstrating that these distinctly car-shaped EVs can still be commercially successful.
It appears that the BYD Yuan UP could open at an estimated cost of approximately $14,000, exceeding the approximated $11,000 of the BYD Seagull and coming in underneath the price of the Dolphin of about $16,000. Given the popularity of SUVs worldwide, the Yuan UP looks to take China’s EV market – and likely the global market too – by storm. If the Yuan UP transacts as the Seagull and Dolphin currently do, then it may just be that Tesla’s status as the top-selling electric vehicle manufacturer could soon become a distant memory.
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