Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly.
Given policy uncertainty around Chinese EV exports to major markets like the U.S. and Europe, BYD is seeking to bolster overseas sales by moving production to regions perceived as more friendly.
BYD has established itself in Southeast Asia as the top-selling EV brand, grabbing more than one-third of the market last year after barely selling cars there previously, according to data from Counterpoint Research.BYD sold 70,000 electric cars in Southeast Asia last year with a 35% market share, putting it ahead of rivalsOne of BYD's advantages over Tesla is a number of offerings in the mass market, as well as a mix of hybrid and battery-powered cars.
In another contrast with Tesla's direct-dealership model, BYD often relies on local distributors and partners for sales in countries outside China. For example, in late 2022, BYD signed aWhile U.S. scrutiny on China's electric vehicle dominance is only growing, BYD is expanding in Brazil and has its sights on Mexico, on the U.S. border.
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