Yes, you read that right! In under three seconds, from 0 to 100 km/h, and all for around €9,600! This isn't just mind-blowing; it's reality as the Chinese automaker BYD disrupts the market with this price, while the average EV car price in America stands at $55,000.
But let's take a step back to understand how we reached this point.
Historically, America had a tariff of 2.5% on EV imports, regardless of their origin, until former President Donald Trump increased the tariffs to 25% for Chinese cars. Joe Biden has now escalated this tariff to 100%, aiming to deter the Chinese automaker and protect the American car market.
BYD's CEO, Wang Chuanfu, responded to this move by saying, “It looks like America is not ready for our product. It doesn't matter to us. When they are ready, we will be too.” This isn't just a powerful reply; it's essentially a slap in the face to Biden's policies, signaling that BYD is now turning its focus more towards Europe than the US.
Imagine the impact in countries like Italy, where the average fuel price is €2.20 per liter. What happens when people have the option to switch to a car they can afford with their debit card? They will buy it, and soon, the market could be flooded with BYD cars. But here's the catch:
Where will all these new EV owners charge their cars? Sure, house owners can install chargers in their garages, but that solution comes with its challenges. And what about those living in apartment buildings without designated parking spots or garages equipped with chargers? It seems like Europe could be in trouble, right?
No. Because sustaparking+ Technologies has already devised the perfect urban solution for such dilemmas. It's called sustaparking+, a vertical parking tower that operates entirely autonomously, meaning no human intervention is needed, and each parking spot includes a fast charging point.
Mario Radosavljevic, the founder of SustaCapital Technologies based in the DIFC - Dubai International Financial Center, comes from the automotive sector, where he worked in manufacturing and supply chain management for aftermarket and major brands. He saw this change coming. This shift can't be navigated with gut-feeling ideas but requires strategic solutions and expertise from those who have spent decades in the industry.
This reminds us of the transition from horses to cars, when many said that cars wouldn't last. Over a century later, we know better, and history is repeating itself.
