From Investing.com: 2025-05-06 08:46:00

In 2024, Chinese automaker BYD surpassed Tesla to become the world’s top electric car manufacturer, posting a 126% increase in net profit. BYD’s success is attributed to vertical integration, competitive pricing, and aggressive expansion. The company is now expanding into Europe, particularly Switzerland, with plans to open fifteen sales outlets by the end of the year.

BYD, known as Build Your Dreams, started as a battery manufacturer in 1995 and later entered the car industry. The company’s financial growth has been impressive, with EVs contributing around 80% to its revenue. Unlike Tesla, BYD covers a wide range of market segments with various models at different price points.

BYD’s competitive strategy focuses on volume, affordability, vertical integration, and geographic expansion. The company received substantial government subsidies, allowing it to increase production capacity and become a major player in the global EV market. BYD also invests in local manufacturing to lower costs and adapt to regional needs.

Looking ahead, BYD aims to sell 5.5 million vehicles in 2025 and expand its global footprint. The company continues to innovate in EV technology, including a supercharging platform and driver-assistance systems. However, geopolitical tensions, tariffs, and competition pose challenges to BYD’s international growth.

Despite challenges, BYD’s combination of scale, cost competitiveness, and innovation positions it for significant global success. The company’s strategic approach and focus on EV technology could make it a key player in the next phase of the EV revolution.



Read more at Investing.com: BYD Beats Tesla: Is the Future of Electric Cars Made in China?