For subscribers
The whole car industry is in BYD’s sights, not just Tesla
The Chinese EV maker, backed by billionaire Warren Buffett, is on the cusp of joining the ranks of formerly obscure car brands that conquered the world.
Sign up now: Get ST's newsletters delivered to your inbox
While many competitors have struggled amid the wave of discounting that has hit the EV sector over the past year, BYD has prospered.
PHOTO: AFP
David Fickling
Follow topic:
It may be just one-tenth the size of Tesla in terms of market capitalisation, but BYD has just pulled ahead to become the world’s biggest producer of battery passenger cars.
To many, BYD still remains a little-known car brand, more familiar from business-news articles citing billionaire investor Warren Buffett’s 2008 investment in the Chinese electric-vehicle (EV) maker than sightings of actual vehicles out on the road. And yet, the vast volume of its sales in China, combined with a growing number overseas, means it overtook its American rival in the December quarter. The 526,409 delivered over the period pipped Tesla’s 484,507.
