OREANDA-NEWS The dynamics of prices for electric vehicles from the Chinese manufacturer BYD indicates that the company has launched a price war against major foreign competitors such as Toyota and Volkswagen. This is reported by Bloomberg with reference to data on the cost of its models.

As part of the "Electricity is cheaper than Oil" marketing campaign, BYD has reduced prices for more than a hundred hybrid and all-electric models, as well as relaunched another 70 models with a reduced cost. The only model that did not fall in price was the Yangwang supercar, which will cost the buyer 233 thousand dollars.

As a result, the most affordable electric car from a Chinese manufacturer will cost less than 10 thousand dollars. For example, a Seagull hatchback can be bought for 9.6 thousand. The Qin Plus electric sedan, one of BYD's most popular models, costs $10.9 thousand, which is 20 percent cheaper than before.

At the same time, in the United States, the average price of an electric car is 60 thousand dollars. Bill Russo, the head of Shanghai-based Automobility, noted that BYD is using its advantage in profitability and trying to squeeze competitors out of the market.

Earlier, Maxim Sokolov, President of AvtoVAZ, said that the protective measures taken against Russian automakers are insufficient. Chinese manufacturers are still winning the competition due to cheaper production and more options. He called on the government to bring the recycling fee to such a level that the expansion of Chinese brands would stop.