BYD: Tesla's Real EV Rival
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
BYD, a Chinese electric vehicle manufacturer, is rapidly gaining ground on Tesla, despite having a smaller market cap. BYDs market value doubles when hybrids are factored in, and theyve outsold Tesla in key markets since mid-2021. BYDs sales have been boosted by price wars, and theyre expanding into Canada and the US. They also supply high-performance batteries to major automakers and are developing solid-state batteries. Analysts predict double-digit growth for BYD, making them a formidable competitor for Tesla.
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