INSANE! What BYD JUST DID To Elon Musk And Tesla SHOCKED The ENTIRE Electric Vehicle Industry

INSANE! What BYD JUST DID To Elon Musk And Tesla SHOCKED The ENTIRE Electric Vehicle Industry

#byd #ev #tesla

BYD is a major player in the EV market. But, how come hardly anybody knows about it?

The market for electric vehicles is experiencing a period of tremendous growth at the moment. And in terms of both technology and design, it's one of the fastest-growing sectors.

However, in recent years, Tesla has become the industry leader in producing electric vehicles. Its reasonable price and stylish appearance have put it ahead of the competition, leaving Mercedes, Toyota, and Lucid in its wake.

Now, BYD has hugely influenced the electric car market since transitioning from a battery manufacturer to a full-scale electric vehicle manufacturer.

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BYD, which stands for "Build Your Dreams," is the name of a Chinese firm with headquarters in Shenzhen. The company was started by Wang Chuanfu, a chemist and entrepreneur who amassed a billion dollars.

Chuanfu wanted to start a business that could compete with Japan's export market for rechargeable batteries. As a result, China has eroded Japan's lead in the market for rechargeable batteries.

BYD's primary source of income comes from its position as the world's top supplier of batteries for mobile phones.

But, electric vehicles presented a market opening that Wang Chuanfu recognized its potential. So in 2002, he acquired the privately held Chinese automaker Tsinchuan Automobile Co Ltd.

And then later, utilizing preexisting manufacturing infrastructure, he acquired additional struggling automakers to expand BYD's global reach.

BYD has been an innovator across several fields since its founding as a battery technology pioneer.

BYD now claims to have developed several innovative technologies. Solar power generation, energy storage, and consumer electronics are also included. And these technologies are used in battery-electric vehicles such as cars, buses, lorries, forklifts, and the SkyRail monorail system.

Now, BYD has become the world's fourth-biggest battery maker and one of the largest producers of electric vehicles.

The current market capitalization of the corporation is HK$950.77 billion or $121.16 billion. Additionally, its presence is no longer confined to the Chinese market alone.

Since 2008, billionaire investor Warren Buffett has held 7.73% of the company's stock. Even though it is only getting started in the auto industry, it has big aspirations to expand into many markets in the near future, including Australia, Europe, and North America.

There are a lot of innovative electric vehicle manufacturers besides Tesla. And BYD is a major player in the Chinese auto industry.

In the first half of the year, sales of the company's new energy passenger automobiles increased by almost 300 percent. And this is 76,000 more than Tesla's sold in the year's first half.

Now, BYD's patent portfolio is a major contributor to the company's success. It has more patents in the new energy field than any other company in China, with a total of 9,426.

BYD is the industry leader in battery technology thanks to its 21,000 electronics, automotive, and rail transportation patents.

And right now, it has more people working in research and development than any other Chinese company dedicated to improving battery technology.

Now, establishing a strong brand, as well as the market for new energy, requires extensive scientific research. BYD has become a major contributor to the industry and has created possibilities for others thanks to its cutting-edge, developed technologies.

Additionally, dividing BYD's battery business and expanding its distribution to a greater number of original equipment manufacturers is an essential step for the company in the supply chain. And because of this, they could form partnerships with companies such as Mercedes and Toyota. This will make it possible for its technologies to enter the international market.


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