Part 5/9:
The rapid growth of BYD can be attributed to government incentives for EV adoption. Unlike in other markets, where incentives are often marginal, Chinese consumers have received substantial support, making EVs more affordable and desirable. With models like the BYD Seagull offering compelling features for around $11,800, Chinese consumers are rapidly abandoning their loyalty to Western brands in favor of local options that more closely align with their needs and expectations.