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America's Biggest Car Companies Are in Trouble
Plain English with Derek Thompson
BYD's Focus on Electric Vehicles and Cost Cutting Strategies
BYD is strategically positioned in the EV supply chain, allowing them to cut costs significantly due to economies of scale and robotic manufacturing. They made a bold decision in 2021 to stop producing gas cars and focus solely on plug-in hybrids and electric vehicles, enabling them to develop expertise and cost-efficiency. This intense focus has resulted in the production of affordable, low-emission vehicles like a plug-in hybrid with 30 miles of range selling for $11,000 in China.
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