BYD(SZ:002594) Guo Ji Jin Rong Bao·2025-08-01 13:31Group 1 - The UK government has launched a £650 million electric vehicle subsidy program, offering up to £3,750 off the price of zero-emission vehicles priced under £37,000, effective until the 2028-2029 fiscal year [1] - The subsidy will primarily benefit European brands, with only BYD's Dolphin Surfing version qualifying from Chinese manufacturers, but it may only receive a secondary subsidy due to high carbon emissions from battery production [1] - Strict eligibility criteria for the subsidy include being a zero-emission vehicle, priced below £37,000, and having a battery warranty of 8 years or 100,000 miles [1] Group 2 - BYD's Vice President criticized the UK's subsidy policy as detrimental to the market in the long run, while asserting that it would not affect BYD's sales in the UK [2] - Chinese automakers are increasingly seeking markets in Southeast Asia and South America to avoid high tariffs imposed by the EU and North America, with the UK emerging as a new target market due to the absence of tariffs on Chinese electric vehicles [2][3] - Chinese brands such as MG, BYD, and Leap Motor are experiencing significant growth in the UK, with BYD achieving a record sales figure of 4,583 units in June, a year-on-year increase of 557.5% [3] Group 3 - The UK electric vehicle market is projected to continue its growth, with an expected total of 381,970 electric vehicle registrations in 2024, representing a 21.4% year-on-year increase and a market share of 19.6% [3] - Several Chinese brands, including Aiways, NIO, and Xpeng, are planning to enter the UK market in the coming months [5] - The newly introduced subsidy policy is viewed as another trade barrier for Chinese brands attempting to enter the UK market [6]