The Electric Car Battle: Tesla vs. BYD
Tesla’s stock is experiencing turbulence while China’s BYD, with high revenue, has taken the lead in the electric car market from Tesla.
BYD, with an annual revenue report of $107 billion in 2024, has surpassed Tesla NASDAQ TSLA by about $10 billion.
This indicates BYD’s expanding global influence, especially in markets outside the United States where trade restrictions pose challenges.
BYD’s success is attributed to its recent innovations, including the introduction of an advanced charging system and affordable electric vehicles, which have solidified its position in the market.
Meanwhile, Tesla is facing global sales decline, market share reduction, and brand image issues, partly due to CEO Elon Musk’s political activities.
Despite a recent relative improvement in stock price, Tesla’s shares remain significantly lower than their previous peak, and competition pressure from companies like BYD, especially in Chinese and European markets, has complicated Tesla’s path forward.
