Part 5/8:
BYD’s rapid growth has been staggering. The company recently surpassed Volkswagen, positioning itself just behind Toyota in global auto sales rankings. In November alone, BYD sold about 417,000 vehicles, elevating it to a prominent position within the industry. The challenge for Tesla now is not just against BYD but encompasses the entire legacy automotive sector, which is struggling to keep pace with the shift toward electrification.
Interestingly, Toyota's reliance on BYD for its electric vehicle technology in China highlights the latter's strength in the world's largest auto market. This dependency reinforces BYD’s role as a key player in the ongoing EV revolution.