Tesla also develops low-cost electric vehicles. Does it compete with BYD？

Tesla will also launch a low-cost electric car! According to foreign media reports, Tesla recently disclosed the specific specifications, price and listing schedule of the low-cost electric car "Model Q" at the enterprise briefing (IR) for Deutsche Bank. It is reported that the Model Q is a small hatchback with a total length of less than 4m. It is equipped with a low-cost Ferrous lithium phosphate (LFP) battery, and the driving distance on a single charge will be close to 500km.

In terms of price, the actual purchase price of Model Q is expected to be less than $30,000 if it accepts the tax relief from the US government. This is more than $6,000 cheaper than Tesla’s current popular model "Model 3".

Tesla’s launch of low-priced models may be due to the competition with China’s BYD’s Dolphin or Volkswagen’s ID.3. It is worth mentioning that the hatchback style is aimed at the European market, which may also be Tesla’s counterattack against BYD, which has expanded its position in Europe.

And China BYD is also rapidly entering the world market. The most exported products of BYD are Dolphin and Yuan plus, and their names in overseas markets are Dolpin and Atto3 respectively. It is expected that these two cars will also compete with Tesla’s low-priced models. In particular, BYD is about to enter the Korean market, so it has attracted much attention. BYD Korea plans to open its first exhibition hall in Jiangxi District of Seoul in January next year to display "ATTO 3".

BYD Dolphin

Experts predict that the trend of low-priced models in the electric vehicle market will be more obvious next year. The aggressive pricing policies of Tesla and BYD may advance the popularization of electric vehicles. However, changes in government subsidy policies and the global economic situation may become variables and need close attention.

Industry-related analysts said: "Next year’s electric vehicle market will be fierce competition between multinational companies centered on Tesla and BYD and traditional automobile brands Volkswagen, Toyota and Hyundai. This will provide consumers with a variety of choices and become an opportunity to popularize electric vehicles in advance. "