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BYD is launching its SEAL electric sedan in Australia as it looks to surpass Tesla in EV sales. Starting at AUD 49,888, the BYD SEAL comes in roughly $12,000 cheaper than the Tesla Model 3.

The Chinese automaker revealed the model during a livestream launch event on Tuesday. BYD announced the electric sedan along with pricing ahead of deliveries in early December.

The SEAL is BYD’s third electric vehicle to make the trip to “Down Under,” joining the Atto 3 and Dolphin. BYD’s electric sedan will compete with the Tesla Model 3 and Polestar 2.

BYD revealed orders are now open with prices starting at AUD 49,888 (about USD 32,000) before on-road costs. Compared to the Tesla Model 3, starting at AUD 61,990, the SEAL is about $12,000 cheaper.

It will be available in three trims (like the Model 3), including Dynamic RWD, Premium RWD, and a Performance AWD version.

The cheapest Dynamic trim is powered by a 150 kW electric motor and 61.44 kWh Blade battery pack for 460 km (286 miles) of expected WLTP driving range. Including on-road costs, it will be available from $50,554 to $54,210, according to the state and territory it’s registered.

Electric Vehicle Range
(km)
Battery size
(kWh)
Starting Price AUD
(excluding on-road
fees)
BYD Seal Dynamic RWD 460 61.4 $49,888
BYD Seal Premium RWD 570 82.5 $58,798
BYD Seal Performance AWD 520 82.5 $68,798
Tesla Model 3 RWD 513 60 $61,900
BYD Seal prices compared to Tesla Model 3 in Australia

The sporty, high-tech SEAL has a low drag coefficient of just 0.219, enabling it to glide “like a razor blade through the wind.”

Audi’s former chief designer, Wolfgang Egger (currently BYD’s head designer), led the design efforts. The “X-shape” front end gives it a “powerful sense of forward motion.”

BYD-SEAL-Australia
BYD SEAL European model (Source: BYD)

The BYD Seal can be charged at up to 150 kW with DC fast charging, enabling 30% to 80% recharge in 26 minutes.

All SEAL models feature a 15.6-inch infotainment, 10.25-inch display, Apple Carplay and Android Auto support, dual phone chargers, panoramic glass sunroof, and more.

BYD-SEAL-Australia
BYD SEAL interior (Source: BYD)

Features like a leather-wrapped steering wheel and upholstery exclusively for the Premium, while the Performance adds Frequency Selective Damping shock absorbers.

At 4,800mm long, 1,875 mm wide, and 1,460 mm tall, the BYD SEAL is slightly longer (by 45mm), taller (by 17mm), and wider (by 25mm) than the 2023 Tesla Model 3 (via Drive AU).

Electrek’s Take

BYD has been closing in on Tesla, delivering another record 151,193 fully electric vehicles in September alone.

BYD sold 431,603 EVs in the third quarter compared to Tesla, which delivered 435,059 models. BYD already leads in several overseas markets, including Thailand, Brazil, Columbia, and Israel.

With recent launches in Japan, Mexico, India, Hungary, and Australia, BYD looks to close the gap further or even surpass Tesla in overall EV sales.

The competition is heating up as the SEAL lands in Australia to take on Tesla’s Model 3 directly.

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Oil major BP to slash renewable spending and double down on fossil fuels in strategy reset

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Oil major BP to slash renewable spending and double down on fossil fuels in strategy reset

The BP logo is displayed outside a petrol station on January 30, 2025 in Warrington, United Kingdom.

Nathan Stirk | Getty Images News | Getty Images

British oil major BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion through 2027 as part of a fundamental strategic reset.

The beleaguered energy giant also said it planned to lower its annual capital expenditure to sit within a range of $13 and $15 billion over the same time horizon, while targeting $20 billion in divestments by the end of 2027.

The oil major said investment in transition businesses would be “significantly lower” over the coming years. The firm said spending is now likely to come in at $1.5 billion to $2 billion per year — more than $5 billion per year below the previous guidance.

“Today we have fundamentally reset bp’s strategy,” BP CEO Murray Auchincloss said in a statement.

“We are reducing and reallocating capital expenditure to our highest-returning businesses to drive growth, and relentlessly pursuing performance improvements and cost efficiency. This is all in service of sustainably growing cash flow and returns,” he added.

BP is poised to outline further details of its new direction at its Capital Markets Update on Wednesday afternoon.

An investor day presentation, which will be hosted by Auchnicloss and other members of the firm’s leadership team, is scheduled to take place from 1 p.m. London time.

Analysts have described BP’s investor day as a pivotal moment for the firm, particularly after it emerged that activist investor Elliot Management had built a stake in the oil major.

BP’s Auchnicloss, who took the helm on a permanent basis in January last year, is under significant pressure to reassure investors that the company is on the right track to improve in its financial performance.

The London-listed firm has lagged its industry rivals in recent years, as investors have continued to question the firm’s strategic direction.

Shares of BP fell 1% on Wednesday morning.

‘Shocking but not surprising’

Lindsey Stewart, director of investment stewardship and policy at Morningstar Sustainalytics, said Wednesday that BP’s decision to reduce capital expenditure on renewables and double down on its fossil fuel assets “will be shocking but not surprising to investors focused on sustainability.”

He added that “having already cut back its energy transition targets in 2023, BP’s subsequent underperformance compared with peers has created pressure for BP management to focus on sustainability of a financial rather than ecological nature.”

Reuters on Monday reported that BP is poised to abandon its target to increase renewable generation 20-fold by 2030, citing two unnamed sources close to the matter. A spokesperson for the company declined to comment when contacted by CNBC.

Five years ago, BP became one of the first energy giants to announce plans to cut emissions to net zero “by 2050 or sooner.” As part of this push, BP pledged to slash emissions by up to 40% by 2030 and to ramp up investment in renewables projects.

The company scaled back this emissions target to 20% to 30% in February 2023, saying at the time that it needed to keep investing in oil and gas to meet global demand.

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610 hp for just $33,085 – China raises the bar with Chery Exeed VX C-DM

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610 hp for just ,085 – China raises the bar with Chery Exeed VX C-DM

In case you needed another reason to feel jealous of Chinese car enthusiasts, the Chery Exeed VX C-DM three-row SUV is officially available for pre-order with 610 hp, 1,300 km (over 800 miles) of EREV range, and a starting price of $33,085 US.

State-owned Chinese automaker Chery recently launched the Exeed luxury brand, with its latest model, the Exeed VX C-DM plugin, making its international debut in Saudi Arabia February 23. At the same time, Chery opened the order books on the Exeed in China under the Exeed Lanyue C-DM name. And it is, in a word: impressive.

It’s really nice, you guys

Exeed VX; via Chery.
Exeed VX; via Chery.

Dubbed “the land business jet” on Exeed’s website, the Exeed VX C-DM pairs a 1.5L range-extending ICE motor with a three-speed DHT gearbox that integrates with a 165 kW e-motor. A second 175 kW electric motor sits in the rear axle, giving the big, seven-passenger SUV a combined peak power output of 455 kW (about 610 hp) and 920 Nm (nearly 680 lb-ft) of torque. That’s enough to rocket the big SUV from 0-60 mph in less than 5.0 seconds.

On the EV side of the ERVE equation, the Exeed VX C-DM packs a super-safe CATL NMC battery pack good for 180 km (about 112 miles) of CLTC range in electric mode – a far cry from the twenty-or-thirty-odd miles you’d get out of a conceptually similar Mazda CX-90 PHEV or Jeep Grand Cherokee 4xe.

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It’s nice inside, too

In addition to that power and performance Exeed VX C-DM buyers also get a high-end interior with quilted leather, massaging front seats, slick infotainment screens, panoramic glass roof, a 23-speaker Lion Melody sound system, and LED mood lighting. That high-tech interior sets the stage for more high-tech baubles, like 26 ADAS functions that include self-driving features, an SDG system to reduce collisions, a 540-degree (?) camera for easy parking.

That ADA system combines with a “high-performance integrated cage body” and 10 driver and passenger airbags to deliver a 5 Star C-NCAP crash test rating.

And, yes – al that goodness starts at the equivalent of just 239,900 yuan ($33,085 US) in China.

Eat your heart out.

Electrek’s Take

Exeed VX; via Chery.

We can talk about tariff this and trade war that all day long. The real message here, however, is that China is objectively, unequivocally, and obviously years ahead of the US when it comes to American EVs in terms of manufacturing efficiency, battery and charging technology, and value. And, for as long as they have a system that takes the burden of pensions and healthcare and other basics of life off the manufacturer (and we don’t) they’ll probably keep pulling ahead.

Head on down to the comments and tell me convince me otherwise.

SOURCE | IMAGES: Chery Exeed, via CarNewsChina.

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TSLA gets hammered, Mercedes set to ditch EQ, and big van news

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TSLA gets hammered, Mercedes set to ditch EQ, and big van news

With revenue tumbling almost as fast as market share, Tesla stock is taking a pounding – exactly like CEO Elon Musk predicted! We’ve also got FSD rolling out in China, a German automation acquisition, and more on today’s red candlestick edition of Quick Charge!

We’ve also got some clarifying news at Mercedes-Benz, which is set to ditch its confusing EQ-based model alphanumerics and (God willing) their suppository-based styling language, too. Plus, Rivian launches a new upfit service to make it easier for fleet managers to order ready-to-work EVs, Ram ProMaster EV lives up to its promises with more options and a lower price tag, and a big solar deal goes down.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

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