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
  • @learnsun3376
    China: About 15% of automobile production is exported. South Korea: About 70% of automobile production is exported. Germany: About 75% of automobile production is exported. Japan: About 50% of automobile production is exported. United States: China’s auto industry has overcapacity.
  • @slashsaussier
    I live in Norway, have Chinese collegue at work she drive Tesla, and my neighbor he’s American he drive BYD 😅 true story
  • @ginoe987
    When American companies are on top: free market When Chinese companies are on top: national security
  • @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.
  • I don't have a BYD in the driveway, I have a BYD battery on the side of my house. Was paying $3400 per year for electricity, but now I get paid $3000 per year for the electricity my solar produces. BYD is making me money. 😁
  • I lived in Indonesia, BYD just launched the products 3 months ago. EV car here is very expensive past years, e.g : Ioniq 6 and Kia EV6 price around $80k , Tesla Model 3 Around $100.000 and BYD seal AWD only $45k . With similar quality and experience for all those car, it will be easy to pick BYD Seal. Waiting for my BYD Seal arrive, cant wait !
  • @LordBagdanoff
    People are buying more BYD than Tesla in Singapore at the moment.
  • @mrapollo_17
    If US companies are nervous maybe they shouldn't be replacing all of their lower cost vehicles with premium SUVs and Trucks
  • Damn, we are so ripped off buying EV here. Their prices are so affordable with even longer ranges.
  • @Ray-ld3mt
    I bought a BYD EV this year. It's a fantastic car, great quality! I am loving the experience!
  • @RobertH-qb5it
    Had to laugh about the 'threat to domestic automakers'....the domestic automakers are threatened by their own crappy products.
  • @yeetian2774
    Fun fact: a Honda civic is $15000 in China due to the ruthless competition
  • If Japan and South Korea can dominate the auto market, why cannot China?
  • @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.
  • @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❤
  • 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.
  • @jeffs6090
    One of the best things BYD has is its own cargo ship fleet. That's a genius move!