KUALA LUMPUR, June 22 (Bernama) -- Bursa Malaysia ended on a softer note today as investors engaged in profit-taking following the recent rebound in the local market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.65 per cent, or 11.19 points, to 1,700.84 from last Friday's close of 1,712.03. The benchmark index opened 1.56 points lower at 1,710.47 and moved between 1,699.94 and 1,712.32 throughout the trading session. Market breadth was negative, with decliners outnumbering gainers 560 to 481. A total of 608 counters were unchanged, 1,649 untraded, and 14 suspended. Turnover slipped to 3.29 billion units worth RM2.40 billion from 3.45 billion units worth RM3.79 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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