Wall Street analysts have identified a Chinese electric vehicle (EV) that rivals Elon Musk’s Tesla Inc. (NASDAQ:TSLA) Model 3, at a significantly lower cost. The Seal, produced by China’s EV behemoth BYD Company Ltd. (OTC:BYDDF), backed by Warren Buffett‘s Berkshire Hathaway, is giving Tesla’s Model 3 a run for its money, Business Insider reported.
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. The BYD Seal’s larger interior space, 5G connectivity, and innovative cockpit screen were among the highlighted features.
UBS analysts also pointed out BYD’s unique battery technology, which allows for enhanced in-car legroom, better performance ...