Elon Musk Once Laughed At Tesla Competitor BYD — Now, Praises 'Their Cars'

[beijingwalker]

Elon Musk Once Laughed At Tesla Competitor BYD — Now, Praises 'Their Cars'​

by Navdeep Yadav, Benzinga Staff Writer

May 27, 2023 4:22 AM

Tesla Inc CEO Elon Musk, who once laughed at Warren Buffett–backed Chinese EV-maker BYD Company has now hailed its cars.

What Happened: Musk, on Friday, took to Twitter to respond to an old clip posted by Tesla Owners Silicon Valley Club, where the billionaire is seen laughing as the journalist asked him about BYD trying to compete with Tesla.

In the clip, after a brief laugh, Musk replied, "Have you seen their cars?" and started laughing again. He further responded with a "No" when the journalist asked if he doesn't see them as a competitor "at all."

However, Musk's opinion has drastically changed now.

"That was many years ago. Their cars are highly competitive these days," the billionaire wrote in his reply to the tweet.

Why It Matters: Musk's Tesla has faced rising pressure from growing competitors in the EV market, including BYD, in recent years. The recent sales figures showed staggering growth in EV sales, officially making the Chinese EV giant, BYD, the world's second-biggest electric car manufacturer that is rapidly catching up with Tesla.

Meanwhile, earlier this week, Ford Motor Co CEO Jim Farley, responding to a question on whether catching up with Tesla involves Ford growing returns from its EV business or Tesla facing margin pressure, said, "Both are going to happen."

Musk Once Laughed At Buffett-Backed BYD: Now Hails 'Their Cars' - Tesla (NASDAQ:TSLA), BYD (OTC:BYDDF), Ford Motor (NYSE:F), BYD (OTC:BYDDY)

Tesla Inc CEO Elon Musk, who once laughed at Warren Buffet-backed Chinese EV-maker BYD Company, now hailed its cars.

www.benzinga.com

 

[beijingwalker]

US strategy, if they can't beat you, they'll smear you, just check what they did to Huawei, Tik tok and now BYD
North America Sore Loser Syndrome NASL

China Auto Giant BYD Denies Claims Its Cars Failed Emissions Test

Electric auto giant BYD on Thursday denied accusations levelled by a rival carmaker that two of its models failed China's strict emissions standards.

www.barrons.com

 

[F-22Raptor]

US strategy, if they can't beat you, they'll smear you, just check what they did to Huawei, Tik tok and now BYD
North America Sore Loser Syndrome NASL

China Auto Giant BYD Denies Claims Its Cars Failed Emissions Test

Electric auto giant BYD on Thursday denied accusations levelled by a rival carmaker that two of its models failed China's strict emissions standards.

www.barrons.com

https://twitter.com/x/status/1662143200562417664

Tesla is on pace to have the best selling car in the world for 2023. Model 3 is also in the top 10, with Cybertruck beginning production and delivery in Q4. Tesla is on pace for 1.8M deliveries in 2023.

 

[beijingwalker]

https://twitter.com/x/status/1662143200562417664

Tesla is on pace to have the best selling car in the world for 2023. Model 3 is also in the top 10, with Cybertruck beginning production and delivery in Q4. Tesla is on pace for 1.8M deliveries in 2023.

How about Musks change of tones? He himself can see how big a mistake he made about BYD but you.

 

[JSCh]

The story of China.

The journey of a thousand miles begin with a single step.

Perservere and you will get there.

Long live the industrious Chinese people !!

 

[Han Patriot]

https://twitter.com/x/status/1662143200562417664

Tesla is on pace to have the best selling car in the world for 2023. Model 3 is also in the top 10, with Cybertruck beginning production and delivery in Q4. Tesla is on pace for 1.8M deliveries in 2023.

If you start sellung byds in US they might ban it due to 'national security'. From hikvision, ZPMC, ZTE, Huawei, tiktok, shein, Alibaba, hyperion, all these are some of the best in the world. Without competition, you are stuck with Tesla. When Tesla came to China, they sold more than BYD and then suddenly BYD overtook them by offering better product and pricing, now most buyers in China buys BYD. Competition is good, I want Tesla to come to China and compete.

 

[beijingwalker]

China’s BYD dominates global EV market in 2022

Tesla and SAIC-GM Wuling follow ; Global EV market reached 11 mn units last year

ByBizz Buzz|29 May 2023 2:18 AM IST

New Delhi: The global electric vehicle (EV) market reached 11 million units last year with a penetration rate of 14 per cent, as more countries double down on electrification, connection, autonomous driving and sharing in the automobile industry. The top three players worldwide - China's BYD, Tesla and SAIC-GM Wuling - occupied 36.11 per cent of the market in 2022, according to the IDC. Driven by improved supply, high oil prices, government subsidies and price-guaranteed promotions by car companies, China's EV market reached almost 7 million units, with a penetration rate of 31.3 per cent.

China’s BYD dominates global EV market in 2022

Tesla and SAIC-GM Wuling follow; Global EV market reached 11 mn units last year

www.bizzbuzz.news