I liked these BYD overviews:
- BYD exports grew 334% in 2023.
- They owned about 40% of the EV market on China
- BYD is now the largest manufacturer of EVs. Surpassing Tesla production.
- Most of their winning strategy: price. Their battery manufacturing capacities help with this. Their vertical integration strategy seems to hugely help them with costs and supply chain management and flexibility.
- Europe market is a number 1 priority for them. Due to the legislation and incentives to go electric. They are looking to build a factory in Hungary, which could eliminate tariffs.
- They are also planning manufacturing plant in Mexico. Factories in Mexico could eliminate trade barriers for US due to NAFTA.
- If German brands want to compete with BYD and Tesla the key factors are innovation and price. If they are not more innovative than them, they can’t be more expensive either.
Elon Musk: if they are not trade barriers established, China car companies will pretty much demolish most other car companies in the world. They are extremely good.
