Kenneth Chan’s Post

🚗⚡ BYD beats Tesla in quarterly revenue for the first time! ⚡🚗 China’s top automaker, BYD, reported a 24% revenue surge to 201.1 billion yuan ($28.2 billion) for Q3, surpassing Tesla's $25.2 billion for the same period. This marks the first time BYD has outpaced Tesla in revenue since the two began competing globally in EV sales. While Tesla is focused on scaling up the Cybertruck and its partial-automation systems, BYD is charging forward with a lineup of new models that keep the market excited. 🌍📈 #BYD #Tesla #EVMarket #ElectricVehicles #Innovation https://lnkd.in/dwzzhntX

BYD Revenue Eclipses Tesla for First Time as EV Giants Go Head to Head : Revenue hits record but short of estimates, net income beats : Record quarterly sales and strong China demand boosts earnings BYD Co. notched up another win over Tesla Inc. on Wednesday, reporting quarterly revenue that beat Elon Musk’s carmaker for the first time since the pair have gone head-to-head in global electric vehicles sales. Revenue for China’s best-selling automaker soared 24% year-on-year to 201.1 billion yuan ($28.2 billion) for the three months ending Sept. 30, falling short of estimates, but exceeding Tesla whose sales hit $25.2 billion in the same period. BYD Quarterly Revenue Eclipses Tesla for the First Time

Chinese Electric Vehicle maker BYD reported third-quarter revenue that topped that of behemoth rival Tesla for the first time. ➡️ On Wednesday, BYD reported revenue for the three months ended Sept. 30 of 201.12 billion yuan (US$28.24 billion), up 24% from a year ago. That exceeded Tesla’s revenue of US$25.18 billion reported for the same period. ➡️ It’s a first for the Beijing-based EV giant as its solid performance came despite the EV downtrend in mainland China. The company sold a record number of passenger vehicles in August. Read more: https://cnb.cx/3Ap3s2r Credit: CTTO, CNBC International #EV #BYD #Tesla #revenue

Despite China’s overall economy coming down with a bad cold last year, its EV companies are still raring to go — and even upstaging the world’s most valuable auto company. Tesla reported its first annual sales drop in over 10 years, while its biggest Chinese competitor BYD posted annual sales that comfortably beat expectations. #EV #Tesla #BYD #thedailyupside https://hubs.ly/Q031cD7q0

🎃 BYD Outpaces Tesla in Q3 Sales! 🚗💥 BYD reports $28.2 billion in Q3 revenue, surpassing Tesla’s $25.18 billion. 🎃 Why the Shift? Consumers are snapping up hybrid EVs, combining eco-friendliness with practical range—especially in China, where Tesla’s growth has slowed. 🌍🔋 🎃 BYD’s Secret Sauce: With a diverse lineup of hybrids, pure EVs, and traditional models, BYD caters to a range of driver needs, making it a top choice in the world’s largest EV market. ⚡️💪 🎃 Tesla’s Next Move? To compete, Tesla may need to adjust its pricing, expand its model range, or introduce Full Self-Driving in China. 👀🚀 🎃 Big Picture: The takeaway? Flexibility and adaptability are now essential in the rapidly evolving EV landscape. 💡 https://lnkd.in/gtpPAata #BYDvsTesla #EVMarket #Sustainability #Innovation

🚗 Tesla’s 700,000-Car Recall: An Opportunity for Chinese EV Giants? ⚡ Tesla has issued its 15th recall of 2024, impacting 700,000 cars due to a tire pressure monitoring system issue, bringing the total vehicles recalled this year to 2.7 million. This raises questions about quality control at Tesla, while Chinese EV makers stand ready to capitalize. Key Takeaways: 🔧 Tesla’s Recalls: Frequent recalls highlight scaling challenges and quality issues with Tesla’s vehicles, including problems with seat belts, hood latches, and more. While over-the-air updates resolve many issues, frequent reliance on them undermines confidence in Tesla’s manufacturing reliability. 📉 Impact on Tesla: Brand Reputation: Customer trust could waver as safety concerns persist. Increased Competition: Rivals like Volkswagen, Rivian, and Chinese EV leaders stand to gain from Tesla’s missteps. 🌍 Chinese EV Makers’ Opportunity: Companies like BYD, NIO, and XPeng offer high-quality, cost-competitive EVs with a growing global footprint. Geopolitical independence: Tesla’s recalls and U.S. scrutiny give Chinese automakers an edge in global markets, especially in Asia, Europe, and developing countries. Lessons for the EV Industry: Quality First: Automakers must prioritize robust testing and reliability over scaling too quickly. Leverage Competition: Tesla’s struggles provide a chance for global and #Chinese #automakers to seize market share by focusing on trust and quality. EV Market Resilience: Tesla’s challenges demonstrate the importance of resilient supply chains and strong customer relationships in a competitive landscape. 💬 What do you think? Will Tesla’s setbacks give Chinese EV giants the opportunity to dominate, or will Tesla bounce back stronger? Let’s discuss! 👇 #Tesla #EVMarket #ElectricVehicles #ChineseEVs #BYD #NIO #XPeng #Innovation #Sustainability #TechTrends #AutomotiveIndustry #forbes https://lnkd.in/dZGKJKhP

A video allegedly showing a Tesla Cybertruck at a BYD facility in China has sparked speculation about the Chinese automaker's intentions. The footage shows several individuals inspecting the vehicle, both inside and out, suggesting BYD may be conducting a benchmarking or reverse engineering process. This development comes as the Cybertruck gains attention for its innovative features, including a 48-volt electrical system and steer-by-wire setup. While Tesla has no immediate plans to release the Cybertruck in China, BYD's apparent interest in the vehicle highlights the growing competition in the electric vehicle market and the potential for Chinese manufacturers to learn from and potentially adapt Tesla's technologies for their own products. https://lnkd.in/gPteczsZ

Tesla overtook BYD in Q1 2024? 👑 China's BYD made waves for outselling Tesla in Q4 2023, prompting many to believe that the once dominant EV king would fall further behind in 2024.👇 More below. 🚗 Figures for Q1 2024 are now out, and they reveal a dramatic 43% decline in BYD sales from the previous quarter. 🚗 Meanwhile, Tesla reported a slightly less painful 20% drop in sales. To see how this battle is playing out, check out the table below showing the global BEV sales of both companies over the past several years. 🇺🇸 Tesla: 2022 Q1: 310.048 2022 Q2: 254.695 2022 Q3: 343.830 2022 Q4: 405.278 2023 Q1: 422.875 2023 Q2: 466.140 2023 Q3: 435.059 2023 Q4: 484.507 2024 Q1: 386.810 🇨🇳 BYD: 2022 Q1: 143.223 2022 Q2: 180.296 2022 Q3: 258.610 2022 Q4: 329.011 2023 Q1: 264.647 2023 Q2: 352.145 2023 Q3: 431.603 2023 Q4: 526.409 2024 Q1: 300.114 The steep drops reported in Q1 2024 are the latest sign that consumer appetite for fully electric vehicles has slowed, prompting both companies to escalate their ongoing price war. In February 2024, BYD responded to Tesla's repeated price cuts with its own round of discounts. What's your take? 🤔👇 Insights via Visual Capitalist #China #transportation #car #BYD #Tesla #EV #autonomous #electricvehicles #sustainability #cleanenergy _____ 🛎 Follow my hashtag #Danirnautalks on LinkedIn for daily China Supply Chain, Transportation and Logistics insights 👇 Share your thoughts and let's chat in the comments below

China's BYD ranked No. 1 in EV sales, with more than 2.2 million vehicles sold between January and August 2024. Elon Musk's Tesla ranked No. 2, with over 1.1 million vehicles sold. Among the top 10 EV sellers, six are Chinese EV companies, and three are German brands. Source: Global Times #EV #electricvehicles #salesvolume