Switzerland's largest investment bank UBS has released a report analyzing the electric sedan model of Chinese electric vehicle manufacturer BYD by disassembling it. The report noted that 75% of the parts are produced in-house, reducing costs by 15% compared to the equivalent model from US-based Tesla, and predicted a steep growth in market share for Chinese companies in the future.
According to local media such as China Securities Journal on the 5th, UBS disclosed the report after disassembling BYD's electric sedan Seal (海豹, Haibao) the day before. Previously, UBS had analyzed leading electric vehicle brands in the industry by disassembling them; in 2017, it studied the Chevrolet Bolt, and in 2018 and 2021, it researched Tesla Model 3 and Volkswagen ID.3 in a similar manner.
Gong Min, an analyst at UBS responsible for research on the Chinese automotive industry, explained in the report, "About 75% of the parts of the BYD Seal are produced in-house by BYD, making the overall cost approximately 15% lower than the equivalent Tesla Model 3 produced in Shanghai."
Analyst Gong Min further forecasted, "By 2030, the global market share of Chinese OEMs will increase from the current 17% to 33%, while the market share of European OEMs will rapidly decline." He added, "Traditional automobile manufacturers may see their global market share shrink from the current 81% to 58% due to the structurally shrinking fuel vehicle segment."
Last month, BYD set a record high in sales volume, surging ahead. August sales reached 274,386 units, a 56.9% increase compared to the previous year. On a cumulative basis, sales totaled 1,792,184 units, jumping 83.1% compared to the same period last year. This figure approaches 60% of this year's target of 3 million units.
In particular, overseas sales surged, with August exports (25,023 units) surpassing 20,000 units for the first time. BYD, which started exporting last year, has sold more than 170,000 units overseas over 14 months.
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