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Why a small China-made EV has global auto execs and politicians on edge
The China-built BYD Seagull, a compact all-electric hatchback, starts at just 69,800 yuan (or less than $10,000).
The Seagull could be a "clarion call for the rest of the auto industry," said Terry Woychowski, a former General Motors executive who now serves as president of automotive at engineering consulting firm Caresoft Global. There's fear among global automakers that Chinese rivals like the Warren Buffett-backed BYD could flood their markets, undercutting domestic production and vehicle prices to the detriment of their own auto industries. "What we've seen over time is automotive manufacturers eventually enter all the markets that matter … Ultimately the Chinese will come to the U.S.," said Marin Gjaja, chief operating officer for Ford's EV unit, during a recent interview with CNBC.
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