China's BYD Overtakes Tesla as Global EV Leader
Surprisingly, BYD of China has surpassed Tesla to become the world's best-selling electric vehicle manufacturer! With China's rising dragon firmly reclaiming the driver's seat, this exciting news signals a major change in the global EV environment. Encouraging the Ascent: Production Powerhouse: Driven by a strong domestic market and government backing, BYD has accelerated its production ramp-up to surpass Tesla's output for the second consecutive year. Battery Boss: By virtue of their vertical integration, which includes their own battery production, BYD is able to sell EVs at a lower cost than Tesla and reach a wider range of customers. Home Court Advantage: BYD has an excellent environment for expansion thanks to China's fervent demand for EVs and the country's pro-EV regulations. Tesla's Turn? Even though BYD leads the market in sales right now, Tesla is still a powerful force. They have an international production network, a well-known brand, and excel...