In terms of scale, I believe no one can match the Chinese. Due to its cheap labour cost coupled with population and aggressive marketing.
The only option for Tesla is to make another EV brand targeted to the lower income segment of the market. This will give them a dominance advantage in emerging markets like India, Brazil, South Africa, and probably Nigeria.
Between 2018 and 2024, Tesla and BYD, a Chinese car manufacturer, have been leading players in the electric vehicle (EV) market.
In 2018 Tesla Led global plug-in car sales among automotive groups, delivering approximately 245,240 units. BYD shortly followed by the delivery of about 229,338 units.
Let's fast-forward until 2023. Around 1.6 million electric vehicles were manufactured by BYD, compared to 1.85 million by Tesla.
Then, in 2024, BYD overtook Tesla as the largest EV manufacturer in the world by production volume, having produced 1,777,965 electric vehicles, slightly surpassing Tesla's 1,774,442 output.
But in the long run the winner will be any of them that takes control of Brazil, Mexico and India market. But as it stands now America is losing out.
And recently The BYDSHARK made its global debut in Mexico, reaching 8 countries with its bold design and versatile performance. Offering an 840 km range, it’s built for everyday practicality and adventurous escapes.