On Monday, BYD Company Limited (OTC:BYDDY) signed a deal to open a $1 billion electric-vehicle factory in Turkey, directly threatening the dominance of Tesla Inc (NASDAQ:TSLA) in several European markets.
BYD Is Boosting Its Presence In Europe
Although BYD has already been selling its EVs in Europe since 2021, most of its sales are still in China, but the Tesla killer is aggressively expanding its footrpint outside its home market. This will be its second facility in Europe, with the first currently undergoing construction in Hungary. Its facility in Turkey will be located in Manisa province, allowing BYD to avoid 40% tariffs in the country. In addition, Turkey has a customs trade deal with the European Union, which hit BYD with provisional tariffs for imported Chinese electric vehicles last week, adding a 17.4% charge to the existing 10% rate for vehicles that were not manufactured within the EU.
According to Investor's Business Daily, the annual capacity of BYD's facility in Turkey will be 150,000 EV, and it will also include a research and development division.
BYD Continues To Expand Its Global Footprint
Last Thursday, BYD opened its first EV plant in Southeast Asia or more precisely, in Thailand. Its first facility outside Asia will be in Brazil, as BYD took over old plant of Ford Motor (NYSE:F) and started revamping it into an EV facility earlier this year. In June, Bloomberg reported BYD is also finalizing talks for a plant in Mexico, which is expected to create about 10,000 jobs. In this aspect, BYD is following the footsteps of Tesla, taking a leaf from its Gigafactory book.
While Tesla reported a second consecutive fall in deliveries, BYD posted record June and second-quarter sales. Tesla did beat estimates as the global sales drop of 4% was lower than what Wall street analysts expected, but BYD posted record second quarter sales of 986,720 EVs, which translates to an increase of 57%. In June alone, BYD reported a 35% YoY growth as it sold 341,658 EVs. These robust figures are the result of affordable pricing as BYD led a price war during the first quarter with which it hurt its rivals, Tesla included.
Putting BYD's agressive approach aside, challenges and competitive threats remain.
However, even BYD has challenges ahead with much smaller rivals and startups intensifying their efforts. One example is Nio Inc (NYSE:NIO) that also reproted record June and second quarter sales last week. Last month, Nio revealed its affordable EV brand, Onvo. Also, Nio will be bringing an affordable EV to Europe next year. With Nio, along with other startups, planning to launch more affordable EVs in the coming months, the competitive threat is intensifying both for Tesla and BYD, whose margins have been hurt by price wars which they both used to boost demand.
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比亚迪公司(OTC:BYDDY)周一签署了一份协议,将在土耳其开设一个价值10亿美元的电动汽车工厂,直接挑战特斯拉公司(NASDAQ:TSLA)在欧洲市场的主导地位。
比亚迪正在增强其在欧洲的存在
尽管比亚迪自2021年以来已经在欧洲销售其电动汽车,但大部分销售仍在中国。但这家特斯拉杀手正在积极扩大其在海外市场的影响力。这将是其在欧洲的第二个工厂,第一个工厂目前正在匈牙利建设中。土耳其的该设施将位于马尼萨省,让比亚迪避免了该国40%的关税。此外,土耳其与欧盟有一项海关贸易协议,上周对从中国进口的比亚迪电动汽车征收了临时关税,使还不在欧盟内生产的汽车的10%的税率增加了17.4%。
据投资者商业日报报道,比亚迪在土耳其的年产能将达到15万辆电动汽车,还将包括研发部门。
比亚迪不断拓展其全球业务版图
上周四,比亚迪在东南亚或更确切地说是在泰国开设了其第一家电动汽车工厂。它在亚洲以外的第一个设备将在巴西,因为比亚迪曾接管福特汽车(纽交所:F)的旧厂,并于今年早些时候开始改造成为电动汽车工厂。彭博社在6月份报道称,比亚迪还在最后敲定在墨西哥建厂的谈判,预计将创造约1万个就业机会。在这方面,比亚迪效仿特斯拉,从其Gigafactory的经验中吸取教训。
特斯拉连续第二次交付量下降,而比亚迪则报告了创纪录的六月和第二季度销售。特斯拉的全球销售下降了4%,低于华尔街分析师的预期,但比亚迪报告了创纪录的第二季度销售额为986,720辆电动汽车,同比增长了57%。仅在六月份,比亚迪就以35%的增长率销售了341,658辆电动汽车。这些强劲的数字归功于价格实惠,比亚迪在第一季度发起了一场价格战,伤害了其竞争对手,包括特斯拉。
抛开比亚迪的进取心不谈,挑战和竞争威胁仍然存在。
然而,即使是比亚迪也面临着许多小型竞争对手和初创企业加强其努力的挑战。其中一个例子是Nio Inc(纽交所:NIO),上周也报告了创纪录的六月和第二季度销售。上个月,Nio发布了其负担得起的电动车品牌Onvo。此外,Nio将在明年将一款价格实惠的电动汽车推向欧洲。Nio与其他初创企业计划在未来几个月推出更多价格实惠的电动汽车,这加剧了特斯拉和比亚迪的竞争威胁,他们的利润率已经受到价格战的打击,这些价格战都是为了提高需求。
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本文来自非报酬的外部投稿人。它不代表Benzinga的报道,并且没有因为内容或准确性而被编辑。