Hyperdrive
China’s BYD Has No Plans to Challenge Tesla in US Anytime Soon
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BYD Co. doesn’t have any current plans to enter the US passenger car market, founder Wang Chuanfu said, throwing cold water on the prospect of the Chinese electric-vehicle maker challenging Tesla Inc. in its home market — for now.
The auto titan, which reported that net income more than quintupled last year after it sold a record number of EVs, said at a post-earnings briefing on Wednesday that its home market of China has already entered a “full-expansion phase” for new-energy vehicles.