After China warned that BYD’s recent EV price cuts are creating “war panic,” the company is now turning up the pressure overseas. BYD launched its most affordable EV in Europe, the Dolphin Surf, starting at about $25,000. The tiny EV is BYD’s top seller in China. Will it have the same impact in Europe?

BYD’s EV price war heads overseas with the Dolphin Surf

The Dolphin Surf is the European version of BYD’s best-selling EV in China, the Seagull. The Seagull is already sold for under $10,000 (69,800 yuan) in China, but after another round of price cuts last month, it’s now listed at just $7,800 (55,800 yuan).

Although it didn’t single out BYD, the China Automobile Manufacturers Association warned earlier this month (via Bloomberg) that recent price cuts are “triggering a new round of price war panic” in China.

After launching the Dolphin Surf in the UK and Europe, starting at just £18,650 (just over $25,000), BYD is now bringing its EV price war overseas.

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BYD outsold Tesla in the UK last month, registering 3,025 vehicles compared to Tesla with 2,016, and it’s quickly closing in on full-year sales.

In what’s being called a “watershed moment,” the Chinese EV giant also registered more vehicles than Tesla in Europe for the first time in April. And that’s before the Dolphin Surf arrived, which is now among the cheapest cars in the UK.

The UK’s cheapest EV is currently the Dacia Spring, starting at £14,995 ($20,000) with a WLTP range of 140 miles.

BYD’s base Dolphin Surf “Active” offers 203 miles WLTP range. A longer-range “Boost” variant is available with a range of up to 305 miles (507 km), starting at £21,950 ($30,000). Both include tech and features typically found on more premium vehicles, including a 10.1″ rotatable touchscreen and smart driving capabilities.

“Compact cars are the next frontier for electrification in Europe,” BYD’s executive vice president, Stella Li, said during the recent Dolphin Surf launch event in Rome.

Will BYD’s new Dolphin Surf spark a new EV price war overseas? Although China is warning it will have devastating impacts on domestic auto brands, it could fuel EV demand in Europe and the UK with more affordable options arriving.

Electrek’s Take

With a commanding lead in China, BYD is rapidly expanding its presence overseas to drive growth over the next few years.

According to S&P Global Mobility, BYD is expected to more than double its sales in Europe in 2025 to around 186,000 units. By 2030, BYD’s sales in Europe could reach upwards of 400,000.

And it’s not just Europe. BYD is already a leading EV brand in overseas markets, such as Brazil, Thailand, and Mexico, and is emerging as a threat in South Korea, Japan, and other key regions.

By building nearly all vehicle components in-house, including EV batteries and powertrains, BYD can offer electric vehicles at a significantly lower cost and still make a profit.

Its decision to stop making purely gas-powered vehicles in 2022 is already paying off as BYD emerges as a true global threat. One thing is for sure: BYD will be a brand to watch over the next few years as demand for lower-cost, efficient electric cars continues to grow.

Source: FT

The iron-mining giants at BHP have big plans to decarbonize their mining operations, and they’re turning to the Chinese heavy equipment electrification and automation experts at XCMG to help make it happen.

BHP counts itself among the world’s top resource companies, and this new Agreement signed at XCMG headquarters in Xuzhou, China aims to pair their mining expertise and operations with XCMG’s innovative line-up of electric heavy equipment options to usher in, “a new era of strategic cooperation in the field of green and smart mines.”

International Mining reports that the Agreement between XCMG and BHP will deepen the companies’ cooperation in multiple dimensions, including joint equipment research and development ventures and localized (to Australia) service system construction.​

“Our cooperation with XCMG is a key initiative for BHP to work with strategic suppliers to promote the future development of mining technology,” explains Rashpal Bhatti, BHP Group Procurement Officer. “Combining our operational experience with XCMG’s innovative capabilities to provide strong support for a safer and more sustainable mining fleet solution is an important step in BHP’s overall drive to reduce emissions from its operational assets.”

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Both groups are quick to underscore the fact that this Agreement is being seen as a starting point, not a complete definition of their new relationships. Talks are already underway to see more cooperation in key areas of technological innovation and industry standard-setting, which builds on the latest, massive $400 million deal XCMG scored with Fortescue last year.

More standardization across mining operations means lower costs, which means even higher ROI and lower TCO metrics. And, of course, That’s all that matters in this space: if something makes cents, it makes sense.

Why choose XCMG

It should come as no surprise that BHP is tapping XCMG to help it decarbonize. At the 9th Annual Energy and Mine Australia Summit held last month Perth, Australia, the battery electric heavy equipment deal XCMG (“XCMG”, SHE: 000425) signed with Fortescue received the Innovation In Decarbonizing Material Movement award. Its proposed autonomous vehicles, too — like the XDR80TE-AT Autonomous Electric Mining Truck concept (shown, at top) — are winning prestigious international industrial design awards.

That deal pairs low-carbon manufacturing with carbon offsetting to build its machinery as XCMG works towards a net-zero emissions goal. Once the equipment is operational, it’s expected to reduce fossil fuel consumption by millions of gallons of diesel annually, setting another industry benchmark for decarbonization in the mining sector.

SOURCES | IMAGES: XCMG, via International Mining, PR Newswire.

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