Elon Musk, according to Forbes magazine, in 2023 he increased his wealth by more than $100 billion. His Tesla, however, is threatened by the Chinese in the primacy of electric cars.
La BYD (Build Your Dreams) owned by the entrepreneur Wang Chuanfu, is growing at a rapid pace in the largest electric market in the world. The company worth 134 billions of dollars, known for also being the first producer of nickel-cadmium batteries, it certainly has two advantages over Tesla: sales prices and displacements. They cost less, they are more sought after by those who do not like to go at high speed also to avoid wasting energy.
BYD overtakes in the fourth quarter, but Tesla still reigns supreme in 2023
In the last quarter of 2023, BYD has overtaken Tesla in sales of electric cars, but if you look at the entire year, Elon Musk's car company maintains its leadership with 1,82 million vehicles sold, compared to the 1,6 million of the Chinese. BYD's overtaking in mobility starts from China but has conquered the world capital market. Warren Buffett, invested 230 million dollars in the company, keeping an eye on the dizzying growth of electric vehicles. In addition to cars, BYD produces every means of transport without polluting fuels and has an undoubted strategic value in the journey towards sustainable mobility.
It's not just dealing with Tesla, evidently, because having a politically protected internal market at its disposal it knows that the sustainability with two, four or six wheels there is no alternative. If Musk has reduced production costs by more than 2023% by the end of 20, the Guangdong-based factory has no intention of doing so.
Batteries and geopolitics
The business revolves around the batteries on which Wang has been focusing since the 90s. Credit must be given to him because he knew that the new oil would be incorporated into a box on board the car. There competition with other electric vehicle manufacturers it was therefore a given. Another global intuition in an extraordinary country that continues step by step. The energy transition remains the dim light of a composite plan entrusted to Western-minded entrepreneurs, but respectful of the political nomenclature.
BYD in this way conquered 70 countries and wants to enter the top 10 of the main global car manufacturers, having around ten brands in its portfolio. For now he is not receiving encouraging signs from Europe because his cars and those of other Chinese manufacturers cost on average double as much due to a game of import taxes. The battle overimport Export European is the litmus test of a bilateral worry about the most complex game of the century: saving the planet.
All the European Green Deal it was declined as an anti-Chinese function without ever taking into account the repercussions, the inventiveness, the technologies, the global system of raw materials. The issues came to a head week after week until the farewell in June of the person who conceived that Gren Deal. Lastly the announcement of two other Chinese giants JAC Motors and MEV for cars with less expensive sodium ion batteries and with lower environmental impacts. The European trouble continues.
