Elon Musk admits BYD cars ‘are highly competitive these days’ after 2011 clip shows him laughing at the rival now trouncing Tesla in China

[Han Patriot]

it is far from just a US/China thing. You are certainly completely clueless about Chinese import tariffs.

European Auto Makers Face 2023 Profit Hit While Industry Seeks China Import Action

European auto profits will dive in 2023 as the recession kicks in and inflation bites. Mondial de l‘Automobile showed competition from China gathering pace and manufacturers want a level playing field. One investment bank expects overall profits to halve in 2023.

www.forbes.com

Those are cars manufactured in Europe, Volkswagen's largest market is China, manufactured in China. Good cars, Ford is dead, low quality and features. You will see so many different foreign brands here, I dare say China's automarket is the most competitive on earth. Chinese automakers trained and grew from this hostile environment.

 

[KAL-EL]

Porsche 911 Turbo S

 

[Hamartia Antidote]

Those are cars manufactured in Europe, Volkswagen's largest market is China, manufactured in China. Good cars, Ford is dead, low quality and features. You will see so many different foreign brands here, I dare say China's automarket is the most competitive on earth. Chinese automakers trained and grew from this hostile environment.

How can you make a claim of your market being the most open if China slaps a 15 to 25% tariff on imported cars??? If anything that closes your market to the world as it discourages people from buying certain cars due to the higher price. The only way you are going to see many models of foreign cars is if the local joint venture actually makes all of them...which is doubtful.

The only thing open about it is allowing new Chinese car companies to make cars because they know they have at least a 15% to 25% price advantage,

 

[PradoTLC]

Elon Musk admits BYD cars ‘are highly competitive these days’ after 2011 clip shows him laughing at the rival now trouncing Tesla in China​

May 28, 2023 at 1:50 AM GMT+8

Elon Musk paid respects to a Tesla rival yesterday. But it was in response to a 2011 video of him laughing at its vehicle quality.

The Tesla CEO responded Friday to a Bloomberg interview in which he derided China’s BYD. As the interviewer mentions the Chinese company as a competitor and notes Berkshire Hathaway’s 10% stake, Musk can’t stop laughing. When asked why he’s chortling, he responds, “Have you seen their car?” He then admits he doesn’t see BYD as a competitor.

https://twitter.com/x/status/1662294768049696769

In April, BYD reported that its profits had surged over 400% in the first quarter from a year earlier, and that its vehicle sales had nearly doubled to 550,000 globally in the quarter. The EV maker has ousted Volkswagen as the best-selling brand among automakers in China—a key market for Tesla—and it’s pushing into Europe, Latin America, and Asian markets. It’s also dominating Tesla in China.

“That was many years ago,” Musk said of the video clip, posted by Tesla Owners Silicon Valley. “Their cars are highly competitive these days.

Others agree.

“BYD is very, very strong,” Volkswagen CEO Oliver Blume said in Shanghai last month.

And this week, Ford CEO Jim Farley mentioned BYD while explaining that Ford’s main EV rivals are Chinese companies, not GM or Toyota. “The Chinese are going to be the powerhouse,” he said at the Morgan Stanley Sustainable Finance Summit.

“BYD is so much ahead of Tesla in China, it’s almost ridiculous,” Berkshire Hathaway vice chairman Charlie Munger said earlier this year. Warren Buffett’s right-hand man added, “I have never helped do anything at Berkshire that was as good as BYD.” Munger was behind the conglomerate’s decision to invest in the fledgling Chinese carmaker in 2008.

That same year, Musk had lunch with Munger, saying Berkshire Hathaway should invest in Tesla. Munger declined, and indeed Berkshire has largely steered clear of automakers over the decades.

“Charlie and I for long have felt that the auto industry is just too tough,” Buffett explained earlier this month at Berkshire Hathaway’s annual conference. But they placed a bet on BYD.

In the first quarter, BYD had nearly 40% of the market among new energy vehicle makers in China, according to Bloomberg, compared to just over 10% for Telsa, a distant second. Tesla earlier this year initiated a price war against BYD in China.

Musk was laughing about BYD three years after Munger’s investment.

“I don’t think they have a great product,” Musk continues in a longer version of the 2011 Bloomberg interview posted on YouTube. “I don’t think it’s particularly attractive. The technology is not very strong. And BYD as a company has pretty severe problems in their home turf in China. So I think their focus is, and rightly should be, on making sure they don’t die in China.”

It’s safe to say that BYD did not die.

well you have give him that he is fair...

 

[Han Patriot]

How can you make a claim of your market being the most open if China slaps a 15 to 25% tariff on imported cars??? If anything that closes your market to the world as it discourages people from buying certain cars due to the higher price. The only way you are going to see many models of foreign cars is if the local joint venture actually makes all of them...which is doubtful.

The only thing open about it is allowing new Chinese car companies to make cars because they know they have at least a 15% to 25% price advantage,

Do you allow BYD to manufacture and sell in the US before banning it due to national security or Huawei or Hikvision? you get where I am going here. Foreign companies are free to make money and invest in China, we slap tarriffs because there is no EU FTA, EU slaps a 15% and us a 15 to 25% maybe due to legacy developing country status.I think we are still developing. lolol

 

[Hamartia Antidote]

Do you allow BYD to manufacture and sell in the US before banning it due to national security

What the hell are you talking about?

BYD is not banned in the US and they already have a vehicle plant here in the US in Lancaster, California which they opened in 2013. Longer than Tesla has been in China.

Which BTW BYD 100% owns..not some stupid BS 49% Joint venture requirement like the noncompetitive Chinese market usually requires of foreign companies..which Tesla was the only foreign vehicle manufacturer successfully able to negotiate around that requirement.

BYD plant in Lancaster, California. Yes, it is still open.

If BYD wants to roll their latest and greatest car models down the assembly line tomorrow there is nothing stopping them from doing it...other than passing a crash test. Right now they are not.

Try harder next time with your desperate lies.

 

[Han Patriot]

What the hell are you talking about?

BYD is not banned in the US and they already have a vehicle plant here in the US in Lancaster, California which they opened in 2013. Longer than Tesla has been in China.

Which BTW BYD 100% owns..not some stupid BS 49% Joint venture requirement like the noncompetitive Chinese market usually requires of foreign companies..which Tesla was the only foreign vehicle manufacturer successfully able to negotiate around that requirement.

View attachment 932322
BYD plant in Lancaster, California. Yes, it is still open.

If BYD wants to roll their latest and greatest car models down the assembly line tomorrow there is nothing stopping them from doing it...other than passing a crash test. Right now they are not.

Try harder next time with your desperate lies.

BYD Excluded From Infrastructure Funding Because It Is Chinese - CleanTechnica

BYD builds electric buses in America with American-made batteries and assembled by American workers. So why is it excluded from federal infrastructure funds?

www.google.com

I didn't even try that hard. Even that metro plant CRRC is now useless, after thaf Boston contract they are banned due to Trump executive order. Same goes for Huawei, Hikvision, DJI etc. Don't even start with tariffs.

BYD Excluded From Infrastructure Funding Because It Is Chinese​

 

[Hamartia Antidote]

BYD Excluded From Infrastructure Funding Because It Is Chinese - CleanTechnica

BYD builds electric buses in America with American-made batteries and assembled by American workers. So why is it excluded from federal infrastructure funds?

www.google.com

I didn't even try that hard. Even that metro plant CRRC is now useless, after thaf Boston contract they are banned due to Trump executive order. Same goes for Huawei, Hikvision, DJI etc. Don't even start with tariffs.

BYD Excluded From Infrastructure Funding Because It Is Chinese​

LOL! Please point me to a Chinese Government stimulus infrastructure work that is awarded to US companies. Infact name where US companies are even allowed to bid on a Chinese infrastructure contract???

CRRC is still in business making trains in the US. The only Trump ban was new FEDERAL money used to help stimulate states into building new infrastructure could not be awarded to foreign companies. That just makes logical sense.

States can still award contracts to foreign companies using their own money.

Are you going to try and desperately find some other angle?

So to get back on topic instead of going down your smokescreen tangents....

The only reason BYD is not building cars in their Lancaster plant is because they are currently choosing not to...which is the same modus operandi as when they opened back in 2013. It's as simple as that.

They said back in 2009 they would build plants in the US and make EVs. In 2013 their US plant opened.

So far that US plant has only been making buses....

 

[Han Patriot]

LOL! Please point me to a Chinese Government stimulus infrastructure work that is awarded to US companies. Infact name where US companies are even allowed to bid on a Chinese infrastructure contract???

CRRC is still in business making trains in the US. The only Trump ban was new FEDERAL money used to help stimulate states into building new infrastructure could not be awarded to foreign companies. That just makes logical sense.

States can still award contracts to foreign companies using their own money.

Are you going to try and desperately find some other angle?

So to get back on topic instead of going down your smokescreen tangents....

The only reason BYD is not building cars in their Lancaster plant is because they are currently choosing not to...which is the same modus operandi as when they opened back in 2013. It's as simple as that.

They said back in 2009 they would build plants in the US and make EVs. In 2013 their US plant opened.

So far that US plant has only been making buses....

It is not just stimulus package, read the ban clearly, BYD is banned from any project containing federal funds. Alot of states are even having their own mini ban. BYD is as good as dead in US. US wannabes will buy Chinese batteries and sell 'American' buses now. Lololol

In China we even buy Dell computers for governments offices due to open market policies.

US companies are allowed to bid for any project in China except military projects but NONE are competitive enough. Chinese companies only started to dominate since the last decade. BYD declined to sell electric cars because of fear they might be targeted for the same reason dozens of Chinese companies were. NATIONAL SECURITY. Mind you these companies are some of the best in their field.

 

[Hamartia Antidote]

In China we even buy Dell computers for governments offices due to open market policies.

Hmm...how can the Chinese Government (like Trump) stimulate local tech companies...

May 2022

China's Promise to Shore Up Battered Tech Sector Boosts Its Stocks

Tech stocks had a rollercoaster week, finally rallying on after government leaders said they would support the sector, and the central bank cut interest rates.

www.barrons.com

Oh...here is how:
May 2022

China Orders Government, State Firms to Dump Foreign PCs

China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within two years, marking one of Beijing’s most aggressive efforts so far to eradicate key overseas technology from within its most sensitive organs.

www.bloomberg.com

China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within two years, marking one of Beijing’s most aggressive efforts so far to eradicate key overseas technology from within its most sensitive organs.

Yet another failure by you with the facts.
This is like #5 now. you just perpetually keep tripping over yourself.

 

[Muji.Iqbal]

China should start selling its cars in Pakistan and Saudi Arabia.

 

[Hamartia Antidote]

China should start selling its cars in Pakistan

Good question (if what you say is true)

Why is China selling cars to their "enemies" but not their "good friends".

China sells cars in Europe/Australia/New Zealand/Japan. etc...

 

[Han Patriot]

Hmm...how can the Chinese Government (like Trump) stimulate local tech companies...

May 2022

China's Promise to Shore Up Battered Tech Sector Boosts Its Stocks

Tech stocks had a rollercoaster week, finally rallying on after government leaders said they would support the sector, and the central bank cut interest rates.

www.barrons.com

Oh...here is how:
May 2022

China Orders Government, State Firms to Dump Foreign PCs

China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within two years, marking one of Beijing’s most aggressive efforts so far to eradicate key overseas technology from within its most sensitive organs.

www.bloomberg.com

Yet another failure by you with the facts.
This is like #5 now. you just perpetually keep tripping over yourself.

My friend check the date, that happened after US started the trade war, until today i still see Dell computers at my tax office using Windowz. And we all know how risky Windows is for the CIA.

 

[Hamartia Antidote]

My friend check the date, that happened after US started the trade war, until today i still see Dell computers at my tax office using Windowz. And we all know how risky Windows is for the CIA.

You got another year to replace it..unless you want Xi to give you a bad credit score and send you all to "happy and dancing" re-education camps.

 

[Han Patriot]

You got another year to replace it..unless you want Xi to give you a bad credit score and send you all to "happy and dancing" re-education camps.

Not really mate, my tax dept and also alot of SOEs are still using Microsoft products. So you are not denying US started all these shit storm