At the Shanghai auto show this week, a bright yellow hatchback named "Seagull" attracted huge crowds. Developed by China's largest electric vehicle (EV) maker, BYD, the affordable Seagull is priced at 78,000 yuan ($11,300), approximately half the cost of other new energy vehicles available in the market.
Fan Yuhong, a 28-year-old ad professional who attended the event, praised the Seagull, saying, "It's my kind of car, it's suitable for driving to and from work, and you don't need to manage anything, just use the battery... it's also a relatively low-cost product."
BYD's Seagull offers two range options, covering 305 to 405 kilometers (190 to 252 miles). The company claims the EV's fast-charging system can recharge the battery from 30% to 80% in just 30 minutes. The Seagull will be powered by a lithium iron phosphate BYD Blade battery.
Bill Russo, founder and CEO of Automobility, a Shanghai-based strategic advisory firm, predicts that the Seagull will top China's best-selling car list within six months of its launch. He commented, "This redefines the whole market in terms of a price-value proposition."
In recent years, Chinese automakers have reshaped the competitive dynamics in the world's largest auto market. Companies like BYD now aim to bring their aggressive domestic pricing strategies to global markets by increasing exports. Russo is confident that the Seagull's value proposition will resonate with customers worldwide.
"Affordability is attractive to everyone anywhere, whether it's an emerging market, the United States or Europe, this kind of car with this kind of value proposition will sell," he remarked.
