Elon Musk said that Chinese automakers will be “destroyed” competitively in the world if trade restrictions are not introduced.
The head of Tesla announced this almost immediately after the BYD extension became known. The company has overtaken Tesla in sales of electric vehicles worldwide.
In the last three months of 2023 alone, BYD sold 526 thousand electric cars, and Tesla sold 484.5 thousand cars. BYD has achieved this success thanks to the Chinese market and increasing demand for their cars in Thailand, Australia and Israel.
Bloomberg believes that the gap between Tesla and BYD in terms of revenue, profit and capitalization is narrowing in the near future. Probably already this year. [Reuters]
Source: Iphones RU
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