Here's the dirty little secret. The reason that BYD isn't really trying to beat Tesla on pure BEVs is that BYD isn't making money on them.
This is why BYD announced in 2023 that they would be concentrating on Hybrids where they can make some markup.
There is too much competition in China for pure BEVs so the pricing power evaporates. Hybrid are temporarily demanding higher prices.... due to the lack of enough charging infrastructure in rural China. However this is changing and soon BYD will not be able to rely on hybrids for profits.
Earlier on BYD could concentrate on BEVs because the rest of its businesses could support the company's losses on cars. However once they got to making over a million vehicles the car side of the business was too much drag on the bottom line so they switched to making more Hybrids.
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