BYD is the only automaker that sells more plugin vehicles worldwide than Tesla (and a bit fewer full electrics). It's also basically the only other profitable electric automaker in the world. In some regards, you
BYD is the only automaker that sells more plugin vehicles worldwide than Tesla . It’s also basically the only other profitable electric automaker in the world. In some regards, you can certainly say that BYD is leading the charge in EVs. On the other hand, in terms of, BYD trails Tesla a bit. The bigger difference, though, may well be what is happening in their bank accounts.” dug into Tesla’s and BYD’s finances and noticed that Tesla rakes in a lot more money.
This is how the only two profitable EV makers in the world stack up against each other in the 1st half of 2022:BYD numbers may vary slightly due to fluctuating exchange rate.One thing I’ll note that may not be widely appreciated when looking at these numbers is that BYD is surfing that difficult-to-navigate wave of closing down its fairly large legacy fossil-fuel-vehicle business while investing more and more into EVs and expanding its model lineup and production.
Another key point that will be missed by no one is that Tesla sells higher priced “premium” products that offer a larger gross margin, while BYD often competes in more cutthroat affordable car categories — and in China, no less. So, one would expect BYD to have lower gross margins and lower net profit on comparable revenue. In this period, BYD sold 641,350 new energy vehicles including 323,519 BEVs while Tesla sold 564,743 vehicles.
Making compelling EVs is hard. Making good profits without government subsidies is even harder. I hope Warren Buffet has realized that and put his proceeds from BYD sales to work at TSLA.We’ll see what happens in the future with these brands. I’m still bullish on BYD, its strategy, and its future. However, Tesla’s strategy and future seem even more stable and secure than BYD’s.
As has long been the case, BYD and Tesla are both leaders in the same industries, but in different ways.
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