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BYD unveils new low-cost ‘interstellar chariot’ electric SUV complete with a drone landing

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If you ever wanted an electric SUV that looked straight out of a Star Wars movie (other than Tesla’s Cybertruck), BYD has just the vehicle for you. BYD’s Fang Cheng Bao brand unveiled its new Super 3 electric SUV concept Tuesday, which has a rugged “interstellar chariot” design. Complete with a landing pad for your drone, the new EV is expected to cost less than $28,000 (200,000 yuan).

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China is exporting so many EVs that it needs more ships – a lot more

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Chinese automakers are looking to export electric vehicles by the hundreds of thousands around the globe, but they need a lot more car-carrying vessels to make that happen. Demand is so high that the country is on track to amass what will be the world’s fourth-largest fleet in a few short years, with new trade routes being created especially for Chinese cars.

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BYD’s premium Denza brand updates, cuts prices of N7 SUV to entice would-be Tesla Model Y buyers

A mere eight months after initially launching its N7 SUV in China, BYD sub-brand Denza has followed up with a refreshed version with better technology and significantly lower starting prices. Initially targeting potential Model Y customers, the N7’s sales have yet to reach Denza’s expectations, leading to today’s new demand levers and some new subsidies for switching to the updated model.

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China’s largest carmaker to cut thousands of jobs at its joint ventures with GM and Volkswagen

VW ID.3 price China

Amid an intense price war and lost market share to BYD and Tesla, China’s state-owned automaker SAIC Motor is reportedly making drastic job cuts this year at its joint ventures with General Motors and Volkswagen and at its EV unit – with mass layoffs a rare move for a China-owned company.

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BYD releases last year’s profit report, and it falls a little short

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Chinese EV giant BYD just released its 2023 annual profit report, and it looks like it missed analyst estimates by a smidge, netting $4.16 billion (30.04 billion yuan) compared to the estimated $4.29 billion (30.94 billion yuan). Still, the company reported a more than 80% rise in net profit last year, so it is showing no signs of slowing down.

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