Zero: The Climate Race
Big Take: How China’s BYD became the king of affordable electric cars
Oct 28, 2024
Gabrielle Copolla, a Bloomberg auto reporter in Detroit, and Danny Lee, Bloomberg's China EV reporter in Hong Kong, dive into BYD’s impressive transformation from a battery maker to the global leader in affordable electric vehicles. They discuss BYD's clever strategy of targeting emerging markets to counteract tariffs and its innovative supply chain management. The duo also highlights the significant role of the Blade battery in enhancing performance and how BYD’s aggressive expansion poses a challenge to established players like Tesla.
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Quick takeaways
- BYD effectively compensates for tariffs in larger markets by strategically targeting smaller and emerging markets, highlighting its commitment to global growth.
- The company’s evolution from a battery manufacturer to a leader in electric vehicles underscores the importance of innovation and adaptability in a competitive industry.
Deep dives
BYD's Strategic Market Expansion
BYD has adopted a unique strategy to expand its market presence by targeting smaller and emerging markets, such as Malta. This approach compensates for the heavy tariffs imposed on its vehicles in larger auto markets like the U.S. and the E.U. Despite Malta's small car market, with only around 7,200 cars sold last year, BYD views these regions as vital to its global growth, similar to ‘chicken ribs’—small but cumulatively significant. By exporting to approximately 95 markets, including 20 new ones just this year, BYD is reinforcing its commitment to penetrating diverse markets while increasing production capabilities globally.
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