BYD Challenges Tesla for Global Electric Vehicle Sales Supremacy
China’s top plug-in car maker has been expanding its model lineup, geographic footprint and manufacturing capacity to overtake Elon Musk.
BYD’s logo on an Atto 3 electric vehicle at India’s Auto Expo near New Delhi.
Photographer: Anindito Mukherjee/BloombergIn the last edition of Bloomberg’s Hyperdrive newsletter, BloombergNEF offered up three predictions for the electric vehicle market in 2023: that sales will keep growing, albeit at a slower pace; that this will be a big year for plug-in trucks and vans; and that the global public charging station network will continue to steadily expand.
Today, let’s look at four more prognoses for the year, having to do with Tesla’s budding rivalry with BYD, the outlook for EV startups and battery prices, and the impact of the US Inflation Reduction Act. Again, these are pulled from a full report that BNEF and Bloomberg Terminal clients can find here.