China threatens European industry giants with a $10,000 electric car

Cheap electric cars from China have begun heading to Europe, undermining one of the region’s largest industries.

BYD, the Chinese manufacturer, announced its plans last month to introduce the “Seagull” hatchback to Europe next year. The car offers premium features such as a rotating touch screen and wireless phone charging and is sold for less than $10,000 in China, according to Bloomberg.

The imminent arrival of the car increases the pressure on European automakers to dominate in the post-combustion engine era, as Martin Sander, president of the European electric vehicle business at Ford Motor Company, said: “We are looking closely at this model and other automakers.” Chinese electrical.   “Of course, we get nervous when new competition comes to the market,” he added.

The Seagull won praise for BYD’s build quality, design and technology for the price. BYD’s plans to set up two factories in the region will help mitigate the effects of any EU tariffs aimed at slowing its path.

BYD is at the forefront of Chinese automakers that are increasingly targeting exports after controlling their domestic market. Tesla CEO Elon Musk warned in January that they would largely demolish most other automakers if trade barriers were not erected.