It can be said that 2023 was a relatively bad year for Elon Musk. Especially after changing Twitter’s name and logo and making it ” X” . The bid to buy SpaceX floundered after its satellite internet business Starlink brought in only $1.4 billion of the $12 billion in revenue Musk had projected. Now Musk is in trouble with electric cars, namely the company Tesla . Its rival is Chinese BYD!
BYD is eyeing Tesla’s throne
BYD Co. A Chinese automaker called is about to surpass Tesla as the world’s most popular electric car manufacturer . BYD is not well known on the world stage, but this may change in the near future. In recent years, China has turned to Japan as a new rival for the world’s leading consumer car exporter, and BYD is one of the fastest-growing companies in China’s emerging industry.
Incoming reports and current forecasts indicate that BYD will overtake Tesla’s top spot in electric car sales in the next few months. This marks a turning point in the decade-long rivalry between billionaires. BYD CEO Wang Chuanfu had his sights set on Tesla in the early days of his company’s entry into the electric car business, backed by major investments from Warren Buffett’s firm Berkshire Hathaway.
Musk mocked the Chinese company in a recent TV interview, but today it’s clear that BYD is a legitimate threat to his empire. Tesla is already stumbling on a difficult path. Over the past few months, investors have demanded Musk resign from Tesla after he shared his feelings about Jews.
The California Department of Motor Vehicles charged the company with fraud for claiming its cars were fully autonomous (they weren’t). It won’t be easy for BYD to expand its domestic success with electric car sales abroad, especially in the United States, where its vehicles are virtually unavailable. However, if the company gets what it wants, Musk is in serious trouble.
So what do you think about this issue? You can share your thoughts with us in the comments section.
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