KUALA LUMPUR, May 11 (Bernama) -- Late selling pressure dragged Bursa Malaysia into negative territory at the close, reversing earlier gains as profit-taking in heavyweight banking and transportation counters dampen overall market sentiment. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.75 points to 1,745.31 from Friday’s close of 1,748.06. The benchmark index, which opened 5.94 points firmer at 1,754.0, moved between 1,744.99 and 1,754.0 during the trading session. Market breadth was positive with gainers leading losers 562 to 558. A total of 636 counters were unchanged, 897 untraded, and 12 suspended. Turnover increased to 4.20 billion units worth RM3.17 billion compared with 3.31 billion units worth RM3.00 billion on Friday.
BYD Expands in Europe with Competitive Pricing
- Chinese EV maker BYD introduced its compact SUV, the Atto 2, in France for €28,990 ($30,358).
- The Atto 2 enters the highly competitive European B-SUV market, offering a cheaper alternative to major rivals.
How BYD’s Atto 2 Stacks Up Against Competitors
- €5,000 cheaper than the Kia Niro.
- €6,000 less than the Opel Mokka-e.
- €7,000 below the Peugeot e-2008.
- However, Opel Mokka-e and Peugeot e-2008 qualify for French EV incentives of up to €4,000, reducing the price gap.
- The Stellantis Citroen e-C3 remains €6,000 cheaper than the Atto 2 even before incentives.
BYD’s Strategy in the European EV Market
- BYD is aggressively pricing its models to compete with established automakers.
- Expanding into France and broader European markets, targeting price-sensitive consumers.
- The launch in Paris’ La Défense Arena signals BYD’s commitment to European expansion.
Summary:
- BYD launches Atto 2 compact SUV in France at €28,990, undercutting key competitors.
- Pricing is significantly lower than Kia, Opel, and Peugeot’s EVs, but some rivals benefit from French EV subsidies.
- BYD aims to strengthen its position in the European EV market through aggressive pricing.
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