03:11
Cheap EV alternative to Tesla and BYD gains popularity in small towns in China
Cheap EV alternative to Tesla and BYD gains popularity in small towns in China
Victor Chan, executive vice president of Omoda UK, said the company began selling its Omoda 5 sports utility vehicle (SUV) in Spain in February and plans to offer the SUV in the UK later this year. .
“As Britain's new name, we know that we must earn the trust of British car buyers,” Zhang said in a statement on Tuesday.
“Octopus is an industry-leading and well-respected company, and partnering with them is a key element in ensuring we can deliver the best experience in this critical area of EV customer ownership. ”
In mainland China, the Omoda 5 is only available to customers in a gasoline version, with prices starting at 79,900 yuan (11,038 USD). Its electric model, known as the Omoda E5, has a range of 430km, but is sold in Malaysia for a more expensive RM146,800 (US$30,623).
Octopus automatically sets charging schedules for electric vehicles to help owners save money on their electricity bills. Omada users can save up to £500 (US$622) per year using the company's Kraken technology platform.
The European Commission launched an investigation into foreign government subsidies in September last year, and is expected to impose tariffs on Chinese-made EVs at a standard tax rate of more than 10%.
In the United States, the Biden administration is also considering restricting imports of Chinese-made electric vehicles, but Commerce Secretary Gina Raimondo said electric vehicles pose a risk to the public because they collect “a tremendous amount of information about drivers.” He said it was bringing about.
But analysts believe potential restrictions on China's EV exports will not prevent the country's major companies from accelerating their global expansion ambitions.
UBS said in September that BYD's all-electric Seal sedan has production advantages over Tesla's Model 3, which is assembled in mainland China. BYD vehicles, potential Model 3 rivals, are 15% cheaper to manufacture, the bank said in a report.
Chery sold 1.88 million cars in 2023, an increase of more than half from the previous year. This includes 937,148 units delivered to customers outside the domestic market, double the number in 2022.
Jetour, another EV-focused brand under Chery, expects overseas sales to account for half of its total deliveries from 2027 onwards.
