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this post was submitted on 20 Feb 2024
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That's true for every consumer product. The key here is segmentation and (re)positioning.
Today cellphones are the cheapest they have ever been. Still, iPhone was never more expensive.
BYD and cia are not only building a cheaper product, they're also building better ones at their price range.
iPhones are not better product than other phones though, so building a better product wouldn't matter in that example.
They're building the only ones at that price range because other than Tesla, BYD is the only producer that builds their own batteries.