Chinese automaker Build Your Dreams (BYD) is giving Tesla a run for it money. But is there room for more players in the domestic market?
Chinese automaker Build Your Dreams is giving Tesla a run for it money. But is there room for more players in the domestic market?
Mining the deep reporting of CNA's correspondents, Teresa Tang goes behind the scenes with journalists on the frontlines to unpack the biggest Asian and global stories.Chinese battery and automotive giant BYD achieved a record profit in 2023, annual results showed. Build Your Dreams , the Chinese automaker, is on a mission to create a zero-emission energy ecosystem. It is shifting to a higher gear by lowering prices, with one model available for less than US$10,000.
In this episode of CNA Correspondent, Teresa Tang looks at the race to rule the road in China and abroad.In China, the penetration rate for EVs reached 35 per cent ... and this boom has been very much government driven ... At the end of last year, US$72 billion in tax breaks were announced for new energy vehicles bought from this year to 2028.The EU is toying with the idea of slapping import tariffs on domestic carmakers in China to keep the competition at bay.
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