Why BYD is the Real Threat
When U.S. automakers talk about an existential risk coming out of China, they are probably referring to BYD.
Why? Because the Chinese automaker checks all the boxes. BYD is turning its strengths in manufacturing and technology into a customer offering that’s pulling ahead of the competition.
- First, they have scale. In 2024, BYD produced more EVs than Tesla for the first time.
- Then there’s their technology edge. The company recently made headlines with a breakthrough that promises 250 miles of range from just 5 minutes of charging. In stark contrast, a Tesla supercharger takes 30-40 minutes to deliver the same range.
BYD’s advantages are compounding. In 2024, they overtook Tesla in global revenue, generating $107 billion, 9.5% more than Tesla’s revenue. The company is expected to extend this lead as its production efficiencies and technological advancements continue to drive down costs and improve its offering.
They’re also competitive across all customer segments. BYD offers vehicles ranging from $10,000 to $230,000, with many of its EVs already priced below gas-powered cars—something U.S. automakers have yet to achieve.
It’s not making front-page news mainly because you can’t buy a BYD in the U.S. yet. But that could change, and when it does, the American public will quickly realize what the U.S. auto industry is already up against.
