EV deliveries dropped 10 per cent in June when they made up 8.3 per cent of all new cars sold in Australia – down from 8.8 per cent at the same time last year.
Last month, EV sales slumped to 5.9 per cent of the market.
That was despite many manufacturers cutting prices – some by more than $20,000 – in recent months.
Hence why cheap Chinese EV company BYD last month signed a global deal with Uber to supply at least 100,000 of its vehicles at heavily discounted prices to rideshare drivers.
It will start in Europe and Latin America and expand to western nations including Australia and New Zealand.
Chinese businesses are, as we know, intrinsically linked to the Chinese Communist Party and are often heavily subsidised by the government.
BYD is effectively engaging in a process called dumping, whereby one nation exports a production to another nation and sells it below the domestic sale price in an effort to flood the market and squeeze out competitors.
LINK
