The Electric Throne: BYD's Rise and Tesla's Response in the Evolving EV LandscapeThe electric vehicle (EV) market is experiencing a seismic shift. For years, Tesla reigned supreme, synonymous with innovation and luxury electric cars. However, a new challenger has emerged – BYD, the Chinese automotive giant, is rapidly gaining ground. This article explores the reasons behind BYD's remarkable rise, the contrasting strategies employed by the two companies, and what the future holds for this dynamic
Looks like a turning point.
Renault, VW and Hyundai have also increased their EV sales considerably in 2024 so far, while Tesla is moving down the lists.
So it’s not just Chinese cars taking over due to artificial low pricing. I think consumers are getting more comfortable with EVs in general. Tesla no longer have the advantage of being “first” or long range or being perceived as exclusive luxury or whatever drove them to the top in the first place. Their design also looks pretty dated by now in my opinion.