BYD
Chairman Wang Chuanfu told analysts he was confident BYD’s profitability per vehicle will top Toyota’s when it reaches the scale of the Japanese manufacturer, saying BYD’s cost controls are better.
BYD is eyeing super-fast charging and expansion in Europe to solidify its position as a global EV leader.
The Chinese EV champion overtook Volkswagen Group to lead China’s light-vehicle sales with a record 4.25 million vehicles in 2024.
BYD’s new 1,000-volt fast-charging platform could reshape how quickly EVs hit the road
BYD could be forced it to sell assets, reduce capacity, repay the subsidy and potentially pay a fine for non-compliance if it has benefited from unfair state aid, the Financial Times reported.
The chart in this Bloomberg story illustrates why this apparent R&D breakthrough should scare Tesla, Mercedes and other automakers that produce EVs.
BYD says its Super e-Platform can charge 400 kilometers in just five minutes, making it faster than a Tesla or Mercedes that need double the time to achieve fewer kilometers.
The EV giant, known for upending cost and operating norms in the industry, aims to build more than 4,000 ultra-fast charging units to make the technology available across China.
BYD is reported to be considering Western Europe for a third plant because it wants to build brand recognition and acceptance as a local manufacturer.
Tesla’s disappointing sales in China are due to a narrow and dated lineup and stiff competition from BYD and others, who offer the latest technology, often as standard.
