Tesla's Chinese Rival Unveils Cheapest Electric Car

In January, Tesla CEO Elon Musk said his company’s main rival would come from a Chinese group and, truth to tell, BYD unveiled the $11,000 Seagull this month, the cheapest electric car in the world, and Chinese EV makers became the biggest EV manufacturers worldwide.

Photo Insert: The Seagull is a fully electric city car with compact dimensions and a very attractive price.

Writing for The Street, Luc Olinga said Warren Buffett partly owns BYD, one of the few Chinese companies in which Buffett’s Berkshire Hathaway owns equity.

The Seagull is a fully electric city car with compact dimensions and a very attractive price. At 3.78 meters long, 1.71 meters wide, and 1.54 meters high, its design is different from other BYD models. The lines are more conventional, with an entirely vertical rear face.

Tesla's Model 3 sedan, which is the least expensive model from the Austin, Texas-based automaker, costs $39,990 at base price. Tesla has launched a price war in China and the US for several months to make its cars more affordable.

The last price reduction took place on April 18 in the US.

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