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Chinese automaker BYD (1211.HK) has launched hybrid vehicles with a 1,300-mile driving range for $13,800. Yahoo Finance's Alexandra Canal and Seana Smith break down the company's latest move and position in a heated EV race. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl

Plug-in hybrids priced from 79,800 yuan ($11,014) have made up the bulk of BYD's sales in the past three years

The impending launch of the Seagull increases pressure on European automakers to maintain their market share in the evolving post-combustion engine era.

BYD, which overtook Tesla late last year as the biggest global EV maker, is about to raise the stakes.

Even after tariffs and modifications to meet European standards, BYD executives expect to sell the Seagull for less than €20,000 ($21,500) on the continent.

A blockbuster hit in China and fast gaining traction in Latin America, BYD Seagull claims to be an affordable EV without cutting corners.

BYD, along with other Chinese automakers, is increasingly focusing on exports after dominating the domestic market.

BYD’s Seagull hatchback is set to start Europe sales next year, beating the competition on price