The Seagull, the Dolphin, and Other Chinese EVs Throw Yet Another Wrench in Automakers’ Electrification Pushes
September 2024
In the US, electric vehicle adoption is facing no shortage of challenges. The latest roadblock for domestic manufacturers – competition from Chinese automakers – is difficult to overcome because Chinese autos are striking at the heart of many people’s biggest hesitation with buying an EV: price point. With Chinese automakers like BYD selling models like the Seagull (priced at about $10,000) and the Dolphin (priced at about $14,000) for a fraction of the cost of new EVs in the U.S., legacy automakers are on high alert as they struggle to produce affordable EVs domestically. Both Ford CEO Jim Farley and Tesla CEO Elon Musk have made public comments about the threat posed by Chinese automakers that are able to produce EVs much more cheaply and efficiently.
The State of Play
In response, the U.S. has imposed a severe 100% tax on Chinese EVs, and this week, it took matters a step further by prohibiting the import or sale of any software or hardware used in connected and autonomous vehicles from China and Russia. Despite these efforts, it’s clear Chinese EVs are catching on: In the past four years alone, China (whose automotive industry predominantly produces EVs) has moved from having a balanced auto trade to becoming a net exporter of 5 million vehicles per year.
Side-by-Side: U.S. v. Chinese EVs
As this electric drama unfolds, CoPilot has compiled a side-by-side comparison of the top 5 selling EVs in the U.S., squared up with China’s top EVs.
Here’s what we found: The most popular U.S EVs (average price $48,763) cost an eye-popping 164% more than the top Chinese EVs (average price $18,430) – underscoring how significant of an issue this has become for American automakers:
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