{"id":15140,"date":"2025-01-06T06:30:00","date_gmt":"2025-01-06T06:30:00","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=15140"},"modified":"2025-04-23T08:52:57","modified_gmt":"2025-04-23T08:52:57","slug":"how-chinese-ev-manufacturer-byd-overtook-tesla","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/how-chinese-ev-manufacturer-byd-overtook-tesla\/","title":{"rendered":"How Chinese EV manufacturer BYD overtook Tesla"},"content":{"rendered":"\n

Chinese EV brand BYD and Elon Musk\u2019s Tesla have been battling it out to be the world\u2019s biggest electric vehicle company in recent years. But as BYD seemingly pulls ahead, what are the implications for the rest of the industry and global markets as a whole?<\/h2>\n\n\n
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Chinese EV manufacturer BYD posted record sales of electric vehicles (EVs) in 2024, as Elon Musk\u2019s Tesla saw sales slow for the first time in years. BYD reported that it sold 4.3 million EVs and hybrids in 2024, of which 1.76 million were pure EVs. While Tesla narrowly beat BYD across the whole of 2024, delivering 1.79 million pure EVs, BYD\u2019s 2024 Q4 did actually surpass Tesla. <\/p>\n\n\n\n

BYD (short for \u2018Build Your Dreams\u2019) was founded in 1995 as a rechargeable battery manufacturer. It expanded into automotive after buying a Shaanxi-based car company in 2003, using its battery experience and supply chains to pivot to EV. It is popular for its cheaper models, which range in price from around RMB 70,000 (\u00a37,697) to RMB 200,000 (\u00a321,991). Tesla\u2019s Model 3, on the other hand, starts at RMB 231,900 (\u00a325,499). <\/p>\n\n\n\n

Tesla remains the world\u2019s most valuable car maker, driven by its innovative approach, high-performance vehicles and strong branding (thanks, in part, to the inescapable figure of Elon Musk). However, its higher price point has made it less accessible to a broader market segment, an area where BYD has gained a competitive edge.<\/p>\n\n\n\n