The competition in the EV industry is now tilting in the favour of Chinese EV manufacturer BYD. Over the past few years, Tesla has been reigning supreme in the global EV industry, but now BYD is taking the American company’s place. This is a big win for BYD and is the result of their expansion into various regions outside their domestic market, China.
According to the available reports, over 1.3 million vehicles shipped from China this year were electric. BYD and other Chinese EV manufacturers worked hard to make this figure achievable. The innovation of BYD as a company has been a driving force for their growth within the EV industry over the past few years.
Unlike other Chinese EV brands like Nio and Xpeng BYD has been a driving force in the automobile industry. Its switch to electrification has been met with a warm embrace not only from its domestic market but also from foreign markets as well. Over the past few months, BYD has been intensifying its efforts to expand its EV business to other regions.
By offering more options than Tesla, Chinese EV manufacturer BYD has been able to get into the hearts and driveways of more people around the world. As the EV industry welcomes a new king, it prepares for more intensive competition between big names like Toyota that are moving to electrify their vehicles. Chinese EV manufacturers are making a mark in the automobile industry as they spread their wings and explore more markets and regions.