How Chinese EV Giant BYD Is Taking On Tesla

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Published 2024-03-25
Warren Buffett-backed BYD dethroned Tesla in the fourth quarter of 2023 as the world’s top EV maker, selling more battery-powered vehicles than its U.S. rival. BYD was founded by Wang Chuanfu and started making batteries for mobile phones in the 1990s. By 2003, it pivoted to autos and now has become the top car brand in China, as well as a major producer of batteries for electric vehicles. It’s now aggressively expanding globally, exporting over 240,000 cars across 70 countries last year. Elon Musk said in Tesla's Q4 earnings call that Chinese automakers will "demolish most other car companies in the world" unless regulators step in. With sights set on North America, BYD could try entering the U.S., but faces government opposition. CNBC explores whether BYD can sustain its relentless growth and what's next for this EV juggernaut.

Chapters:
00:00 - 02:29 Title card - The rise of BYD
02:30 Chapter 1 - Early days
07:39 Chapter 2 - Vehicles
10:41 Chapter 3 - Expansion outside China

Produced and Edited by: Andrew Evers
Supervising Producer: Jeniece Pettitt
Animation: Christina Locopo
Narration: Robert Ferris
Additional Footage: Tesla, BYD, Getty Images

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How Chinese EV Giant BYD Is Taking On Tesla

All Comments (21)
  • @brianmansan
    Sooner or later US govt will declare BYD as national security threat 😂😂😂😂😂. Come on USA.....you can do better than this
  • @mrapollo_17
    I just want them in the US so the price war can drop the insane US car prices
  • @rosampa1980
    BYD is a big sucess here in Brazil, my boss just bought one
  • @sinowei
    In Brazil, they've built 4 factories, one for buses, trucks, light rail, batteries, wallbox, solar panels and this year they'll begin to build cars in an ex-Ford's Factory in Camaçari-BA!!! It's awesome.
  • @user-ez9rw5lm5w
    Look at how hypocritical the United States is, they promote free trade. American cars can be sold in China, but Chinese cars are prohibited from being sold in the United States. Is this fair? Government subsidies? Does the United States not subsidize their cars or large aircraft factories? Double standards.
  • @mrapollo_17
    If US companies are nervous maybe they shouldn't be replacing all of their lower cost vehicles with premium SUVs and Trucks
  • @ramys.4313
    Elon Musk was making fun of them 4 years ago. Now he's asking the us government for protection measures.
  • As recession fears mount on Wall Street and inflation remains well above the Fed's 2% target, some of the top commentators in markets, business, and economics have been sounding off on just how bad they think the next downturn might be — and how far stocks may have to fall. I need ideas and advice on what investments to make to set myself up for retirement, my goal is to have a portfolio of at least $850k at the age of 60.
  • @yeetian2774
    Fun fact: a Honda civic is $15000 in China due to the ruthless competition
  • Is this the "free market" I keep hearing about? Someone made a great product better than we're able to in the US, so we stop people from buying them because we're unable or refuse to do better. What a great country. Top of the world.
  • @leemartinez2975
    BYD is selling a lot of cars in Mexico. I remember 20 years ago Mexicans used to buy used cars in US border towns because American and Japanese made cars were and still are more expensive in Mexico than in the US. For example, the Honda Accord is about $10K more in Mexico than in the US. Then about 5 years ago Chinese brands started being sold in Mexico and the average middle class and lower middle class Mexicans are buying them left and right. The Mexicans figure, why buy a used American car in Laredo, TX when I can buy a new competitively priced car in Mexico and pay no import tax? Chinese companies are starting to manufacture a lot in Mexico also. Every time my wife and I go to Monterrey we see more and more Chinese people. If the US continues on its "America first and screw the rest of the world" policies Canada and Mexico will probably pivot and foster tighter trade relations with the rest of the world.
  • @jeffs6090
    One of the best things BYD has is its own cargo ship fleet. That's a genius move!
  • @JA-qs1ug
    I just bought a BYD Seal. Live in Europe. Really great car.
  • @alee9071
    My next car will be a BYD, test drove it last week, was very impressed, better than a Tesla IMO
  • @user-te6ff7vj1r
    When I will have enough money, I'll get this Vehicle. ❤ From Pakistan and we will continue to support our iron brother China❤
  • @LordBagdanoff
    People are buying more BYD than Tesla in Singapore at the moment.
  • @jeepwillbmw
    I bought a BYD Atto 3 in Australia as it was way cheaper that the Tesla and the build quality was better. So far no problems.
  • @edwudiy
    What are the best additions to a $600k portfolio to boost performance?. ETH is Up and will do better, I believe indicators, for profits will continue to improve, investors like me believe that "Santa has come early" to the markets...
  • @shahdzul3483
    Congrats BYD China for making tech acessible to more people...not like the west biz culture of selling premium priced items for the sake of brand.... Kudos