BYD overtook Tesla for the number of EVs it sold globally in the fourth quarter of 2024, thanks to its presence in some significant markets outside its native China. However, it could be selling even more cars if it kept its prices for foreign markets in line with the pricing it practices at home.
Reuters found that BYD is selling its electric vehicles at twice the price it does in China, sometimes even more. There is usually variation in how much some cars cost around the world, and this depends on logistics and local laws, but it’s rarely as much as this. It makes us wonder what BYD is trying to achieve by implementing these hefty markups.
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