BYD sees bigger profits on some EVs sold in the EU than in China, even with tariffs
After the EU announced new tariffs on Chinese EV imports, BYD is subject to an additional 17.4% duty. However, with BYD reportedly generating higher EV profits on models like the Seal U in the EU than in China, the EV leader is expected to overcome the impact.
BYD announced it would enter the European car market in 2020. After launching in Norway in 2021, BYD showcased its EV lineup, including the Atto 3, Han, and Tang models.
Since then, BYD has strategically expanded in the region, adding models like the Dolphin and Seal. Last year, the Atto 3 was BYD’s best-selling EV in Europe, with 12,363 models sold. It was followed by the Dolphin (1,079), Tang (1,055), and Han (849).
However, BYD sees sales accelerating over the next few years after learning more about the EU market.
The high expectations come despite new EU tariffs on imported EVs from China. After global markets became “flooded with cheaper electric cars” from China, EU Commission President Ursula von Der Leyen announced an investigation in October.
After finding that Chinese EVs benefit from “unfair subsidization,” the EU pre-disclosed additional tariffs that it plans to impose on automakers this week.
BYD EV profits are still higher in the EU with tariffs
The additional Tariff for BYD is 17.4%. If no other resolution is found, it will be applied on July 4, 2024.
Meanwhile, recent research from Rhodium Group shows the tariffs may not be enough to slow BYD and other Chinese EV makers from gaining market share.
According to the study, duties in the 40 to 50% range, or even higher, would likely be needed to slow the momentum.
An increasingly competitive Chinese market has led to aggressive price cuts. As a result, many electric cars sell for much more in the EU than in China. And it’s not just Chinese automakers.
Volkswagen’s ID.4 sells for around 50% more (46,335 euro vs 31,011 euro) in Europe than in China. BYD’s Seal U (Comfort) costs nearly 93% more (41,990 euro vs 21,769 euro). The same goes for other popular models like the BYD Atto 3 (+112%) and Volkswagen ID.3 (57%).
According to Rhodium’s price analysis, BYD makes around 14,300 euros ($15,360) on each Seal U model sold in the EU. In China, BYD earns a profit of 1,300 euros ($1,400) for each model sold.
Based on MSRPs (after shipping, tariffs, distribution, and VAT), BYD earns 13,000 euros ($14,000) more on every Seal U model sold in the EU (the “EU premium).
The EU would need to drastically increase tariffs to reduce the incentive to export. Even a 30% duty would leave BYD with a 15% profit, or 4,700 euros ($5,050) compared to China.
Tariffs around 45% to 55% might be needed to lower profits. However, it would also likely hurt foreign automakers even more, such as BMW and Tesla, which export from China.
BYD’s CEO, Wang Chuanfu, called the US and Europe “afraid” of Chinese EVs last week. “If you are not strong enough, they will not be afraid of you,” he added.
Wang said the tariffs are a testament to China’s auto industry strength. With BYD’s first factory in Europe set to begin production later this year, the EV maker expects to overcome the potential impacts of higher tariffs.
Source: CarNewsChina, Rhodium Group
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Electric vehicles’ share of the market continues to climb in America’s second city, with BEV registrations up more than 50% in the first quarter of 2025 compared with the same period last year. Great news, but charging hasn’t up – but a new plan from Chicago Department of Transportation aims to build up enough infrastructure for the city to keep up.
In a bid to keep up with the rapid growth of EVs, Chicago Department of Transportation (CDOT is currently seeking public feedback on a plan called “Chicago Moves Electric Framework.” The city’s first such plan, it outlines initiatives that include a curbside charging pilot through the city’s utility, ComEd, and expanded charging access in key areas throughout the city.
Unlike other such plans, however, the new plan aims to focus on bringing electric vehicle charging to EIEC and low income communities, too.
“Through this framework, we are setting clear goals and identifying solutions that reflect the voices of our residents, communities, and regional partners,” said CDOT Commissioner Tom Carney. “By prioritizing equity and public input, we’re creating a roadmap for electric transportation that serves every neighborhood and helps drive down emissions across Chicago.”
Neighborhoods on the south and west sides of Chicago experience a disproportionate amount of air pollution and diesel emissions, largely due to vehicle emissions according to CDOT. Despite that, most of Chicago’s public charging stations are clustered in higher-income areas while just 7.8% are in environmental justice neighborhoods that face higher environmental burdens.
“Too often, communities facing the greatest economic and transportation barriers also experience the most air pollution,” explains Chicago Mayor Brandon Johnson. “By prioritizing investments in historically underserved areas and making clean transportation options more affordable and accessible, we can improve both mobility and public health.”
The Framework identifies other near-term policy objectives, as well – such as streamlining the EV charger installation process for businesses and residents and implementing “Low-Emission Zones” in areas disproportionately impacted by air pollution by limiting, or even restricting, access to conventional medium- and heavy-duty vehicles during peak hours.
The Chicago Moves Electric Framework includes the installation of Level 2 and DC fast charging stations in public locations such as libraries and Chicago’s Midway Airport, “supporting not only personal EVs but also electric taxis, ride-hail and commercial fleets.”
Chicago has a goal of installing 2,500 public passenger EV charging stations and electrifying the city’s entire municipal vehicle fleet by 2035.
Electrek’s Take
I hate to sound like a bed-wetting liberal here, guys, but Chicago is getting EVs absolutely right with big utility incentives on both vehicles and infrastructure, a governor willing to stand behind smart environmental policy, and a solid push for more and better infrastructure in the areas where they’ll do the most good. They’re even thinking of the children.
Here’s hoping more cities follow suit.
SOURCE: ComEd, via Smart Cities Dive; featured image by EVgo.
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With a fully-enclosed, G-Wagen-inspired body and an 80 mile electric range, the Bodo G-Wagon golf cart is the NEV you need when you decide it’s time to get serous one-upping the rest of the Palm Beach country clubbers.
If you love the look of the $230,000 Mercedes-Benz G580 off-roader, but think the 579 hp, 6,800 lb. electric 4×4 is probably overkill for occasional trips to the golf course and country club, this G-Wagen-inspired golf cart might be just what you’re looking for.
The shiny black 2024 Bodo G-Wagon sold at Mecum Auctions last month for $31,900, which seems like it might not be a lot of money to the sort of person who decides to take a flyer on a goofy, limited-use EV that ships with real, metal doors, power windows, heating and air conditioning, fully digital instrument cluster and infotainment, and a “posh,” caramel leather interior.
It even has windshield wipers, power steering, and a rear-seat entertainment system that’s built into the front headrests!
It’s really nice in there
Under the hood, the Bodo packs a 15 kW (20 hp) electric motor drawing power from a 10 kWh li-ion battery that won’t deliver a scorching 0-60 mph time (it only goes 35), but will deliver you and your buddies from one end of any golf course in North America and back several times over, thanks to the G-Wagon’s 80 mile range.
The official Mecum Auctions listing goes into a bit more detail, and I’ve included it here, in case it gets deleted after a while and you’re just finding this for the first time in 2027:
Be the envy of any country club or golf community showing up with this 2024 Bodo G-Wagon Golf Cart. Perhaps more appropriately known as an E-Wagon, this baby G-Wagon is powered by a 15kW motor with a 10kWh lithium battery. Boasting an 80-mile range and a 35 MPH top speed, the Bodo is an enclosed, luxury golf cart that pampers occupants with heating and air conditioning, rear-seat entertainment, power windows, power locks and a posh, caramel-colored interior. With the Bodo fitted with power steering and 4-wheel power disc brakes with brake boost, drivers will think they’re in a full-size G-Wagon, thanks to the multiscreen entertainment cluster, the rearview camera, windshield wipers, turn signals, running lights and so much more.
Finished in black with the right amount of brightwork, the overall vibe is one of jaw-dropping, smile-inducing fun. While the Bodo would be an excellent choice for any golf community, it should also prove to be hugely popular around a race track or car condo community as well, or maybe even a neighborhood with its own airplane runways. Over the past decade in particular, the demand for unique, luxury golf carts has been on the rise, and understandably so. The number of luxury communities with specific interests in sports, aero and auto has also been on the rise, with people buying homes in these exclusive locations to better engage with like-minded people. All too often a golf cart is the perfect way to get around these gated neighborhoods, and this one is enclosed, comes with the amenities of a full-size car and is infinitely more stylish.
You can check out a few more photos of the 2024 Bodo G-Wagon golf cart that sold at Mecum, below – and if you want one for yourself, you’re in luck! I found this brand-new 2025 “G600 E-Wagon” (in white) for $23,900 at Gulf Carts in Santa Rosa Beach, Florida. Head on down to the comments and let us know if you buy it.
G-Wagon golf cart gallery
SOURCE | LOTS MORE PHOTOS: Mecum Auctions.
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