BYD Unveils $233K Luxury EV Sports Car and Mexico Factory as it Aims to Compete Globally While Avoiding Complex US Market
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BYD recently unveiled a new $233,000 luxury electric sports car, the Yangwang U9, as it aims to compete across price points.
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BYD was the top selling EV maker globally in 2022, surpassing Tesla, but has no plans to sell personal EVs in the US due to the complicated regulatory environment.
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BYD sees rapid EV adoption patterns happening globally similar to what occurred in China, and plans to build a factory in Mexico by end of 2023 to supply the local market.
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BYD views itself as a tech company selling stylish and innovative EVs, not just a manufacturer selling cheap cars.
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BYD believes the US EV market is slowing down and the Inflation Reduction Act, while well-intentioned, is too complicated and restricted to significantly accelerate adoption.