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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Stella Lee's Persistence
- Stella Lee, a persistent saleswoman, played a crucial role in BYD's early success.
- Despite language barriers, she secured Motorola as BYD's first major battery client.
BYD's Risky Pivot
- Despite investor skepticism, Wang Chuanfu, BYD's founder, pivoted the company into car manufacturing in 2003.
- Warren Buffett's 2008 investment validated Wang's vision, boosting BYD's credibility.
From Mockery to Recognition
- Early BYD models faced criticism for their design, even drawing mockery from Elon Musk in 2011.
- Over a decade later, Musk acknowledged BYD's improved competitiveness.