China’s BYD ALL NEW Masterplan To DOMINATE The Entire Electric Car Industry SHOCKS The EV Industry

#china #byd #ev

There’s a new leader in the electric car industry, and you’ll be surprised who it is.

The meteoric climb of Tesla to the top of the electric vehicle sector is hard to overstate. However, the industry now has a new leader. And the investment made by Warren Buffett and Berkshire Hathaway in 2008 is paying off handsomely, making Buffett and company appear like geniuses once again.

The Chinese electric vehicle maker BYD is now making waves in the media. And in addition to that, they are currently exploring the possibility of expanding into other countries!

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You see, when compared to its rivals, BYD is in a league of its own when it comes to the production of batteries for EVs. It’s because BYD manufactures its own batteries, so it doesn’t have to rely on third-party suppliers.

And considering the current state of the global supply chain, any opportunity to streamline manufacturing is invaluable. Interestingly, the business had signed a contract in June to provide Tesla with batteries! And so far, it appears the decision was wise for the company!

Now, an SEC report made by the firm at the start of the month provided some insight into how successfully production went in the first half of 2022. According to the data, BYD moved almost 641,000 vehicles in the first half of 2022.

Now, this was the highest number of electric cars sold by any manufacturer worldwide, surpassing Tesla’s total of 564,000!

So, what exactly what sets BYD apart from the competition?

BYD not only produces more batteries than Tesla but also undercuts its rival on pricing. And every BYD model is more affordable than its competitors.

Now, BYD targets a different market than Tesla, whose customers tend to be more affluent, even though the lower prices come at the expense of power and battery range. And the base price of the BYD Qin, which is the company’s best-selling electric vehicle, is a mere $28,000. When compared to that, Tesla’s entry-level model costs roughly $50,000.

BYD’s versatility as a manufacturer is probably its greatest strength. BYD also manufactures a variety of other electric vehicles, including passenger vans, buses, trash trucks, tandem trucks, solar panels, forklifts, and even trains.

BYD is also in a better position than its rivals, thanks to its varied business model. And to capitalize on the growing demand for cleaner energy, BYD will look beyond the consumer EV industry to expand into other areas.

Right now, BYD is actively expanding sales of its electric transit buses to cities outside of Asia. This year alone, BYD has signed contracts to sell its electric buses to communities in Scotland and the states of Washington and Louisiana in the US.

BYD is also at the forefront of the movement toward renewable energy.

BYD is well-known not only for selling electric vehicles but also for its achievements in other related industries. And the company also has a special emphasis on renewable energy.

BYD’s proprietary blade battery is designed to address fears about the security of electric vehicles. The business also creates its own plug-in hybrid technology, in addition to solar panels, LED displays, and Energy Storage units.

They’ve also made progress, but it hasn’t always been smooth sailing.

You see, CEO and Founder of Tesla, Elon Musk was an early critic. He believes that the company’s products lacked excitement and that its electric vehicles couldn’t keep up with Tesla’s fast speeds.

In fact, the company’s automobiles were frequently recalled at alarming rates (and sometimes in the double digits) at the time. And right now, some cars are still being recalled because of battery problems.

In addition to producing electric vehicles, BYD now sells battery cells to companies like Tesla. Lithium iron phosphate (LFP for short) is the chemistry that BYD focuses on, becoming increasingly common.

Now, to what extent does LFP’s revival affect the industry, and how might it work to BYD’s advantage?

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