Tesla's Chinese Rival BYD Seal A Cost-Effective Contender To Model 3, Says Wall Street Analyst
Portfolio Pulse from Benzinga Neuro
Wall Street analysts have identified a Chinese electric vehicle (EV) that rivals Tesla's Model 3, at a significantly lower cost. The Seal, produced by China’s EV behemoth BYD Company Ltd., backed by Warren Buffett‘s Berkshire Hathaway, is giving Tesla’s Model 3 a run for its money. Analysts at UBS recently examined the BYD Seal and found that it competes with the Model 3 on many fronts but at a 10-20% lower selling price.
September 13, 2023 | 2:46 am
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POSITIVE IMPACT
BYD's Seal is identified as a cost-effective competitor to Tesla's Model 3.
The positive review of BYD's Seal by UBS analysts could potentially boost investor confidence and impact BYD's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Tesla's Model 3 faces competition from BYD's Seal, which is priced 10-20% lower.
The introduction of a cost-effective competitor to Tesla's Model 3 could potentially impact Tesla's market share and stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80