BYD and other Chinese electric vehicle (EV) manufacturers are outperforming Tesla in China and expanding globally. In January, BYD sold nearly double the number of EVs compared to Tesla and introduced new technology such as the “God’s Eye” self-driving tech. BYD’s global sales are also increasing, with significant success in markets like Singapore and the UK. Other Chinese EV makers like Xpeng are following suit, launching in various European countries and aiming to be major global players. This competitive pressure is forcing local automakers in Europe to enhance their offerings. However, Chinese EV companies are unlikely to target the US market due to high tariffs, leaving American consumers with fewer affordable options and potentially making the US auto industry less competitive globally.
