Tesla Vs BYD: This year a big upset has been seen in the electric vehicle market. Chinese automobile company BYD (Build Your Dreams) has named the world’s number-1 EV company, leaving behind American legend Tesla. The total sales of BYD in 2024 stood at $ 107 billion, which is about $ 11 billion more than Tesla’s sales of $ 97.7 billion. The credit for this historical achievement goes to Byd’s advanced technology, hybrid vehicles and strong market strategy. Let us know what were the main reasons behind the success of Byd.
Byd’s high speed growth
BYD has included itself in the world’s largest and competitive EV companies in a very short time. The company makes more than 19 lakh cars every year and is now working on a plan to increase this number more than 20 lakh units. Especially in China and Europe, its hold is becoming increasingly strong. While Tesla is mainly focusing on the US and Europe, byd has also recorded its presence in Asia, Europe, Africa and Latin America. This is the reason why the company’s sales are constantly making new records.
Byd’s technology changed EV game
The biggest reason for byd’s success is its advanced technology. The company has recently introduced a new vehicle architecture, whose battery is capable of charging up to 400 kilometers in just 5 minutes. In addition, byd has included Adas (Advanced Driver Assistant System) in its basic models, making customers getting high-tech features like Tesla at a low price.
Byd is not limited to making electric cars, but it has also firmly prepared EV charging infrastructure. The company has announced to build more than 4,000 EV charging stations in China, which is likely to increase the sales of its cars.
Increasing popularity of hybrid cars increased sales
The biggest strength of Byd is not just electric cars, but also a segment of hybrid cars. While Tesla is completely dependent on electric cars, BYD makes both electric and hybrid vehicles.
Even today, many people around the world hesitate to fully adopt electric cars, but they have more faith in hybrid cars. Hybrid cars are a mixture of both petrol and electricity, which gives better mileage and affordable driving experience. For this reason, byd is attracting more customers than Tesla.
In 2024, Byd sold 17.60 lakh electric cars, which was almost equal to Tesla’s 17.90 lakh units of sales. But when the sale of hybrid cars was added to it, the total figure of BYD reached 42.70 lakh units. The sale is equal to the American automobile giant Ford. The company aims to sell 50-60 million cars by 2025, and it has performed strongly with an increase of 93% in the beginning of 2024.
Has the new King of EV market become byd?
This tremendous success of Byd has proved that now Tesla is no longer a monopoly on the electric vehicle market. Byd has succeeded in overtaking Tesla thanks to new technology, strong production capacity and hybrid cars.
If byd continues to move forward, then it can become the largest EV company in the world in the coming years. Now the question arises whether Tesla will adopt a new strategy to answer this challenge, or by Byd’s dominance will become stronger in the EV industry? It will be interesting to see who sets forward in this race.
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