"BYD Dethrones Tesla as EV Leader Amid Intensifying Global Rivalry"
BYD, a Chinese automaker initially underestimated by Elon Musk, has surpassed Tesla as the top electric vehicle (EV) maker in the fourth quarter of 2023. Founded in 1995 and starting as a battery manufacturer, BYD's strategic investments and diversification into various sectors, including autos and semiconductors, have fueled its rise. The company's success is attributed to its innovative Blade battery technology, a focus on hybrid vehicles during the early stages of China's EV market, and substantial government support. With a strong domestic presence, BYD is now expanding globally, facing political challenges but continuing to grow, while Tesla faces stiffer competition and a less certain growth trajectory.
- Musk once laughed off BYD as a threat. Now the Chinese giant has taken Tesla's EV crown — here's how CNBC
- China's BYD is rivaling Tesla in size. Can it also match its global reach? The Associated Press
- Short Sellers Target World's Top EV Maker as Rivalry Intensifies Bloomberg
- Here’s what you need to know about BYD, the Chinese EV giant that just overtook Tesla CNN
- China's BYD Overtakes Tesla in Q4 2023 Statista
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