Competition is surging in China's EV market, and it's hurting Tesla's biggest rival
Update: 2025-11-03
Description
BYD, China's electric vehicle giant, faces a challenging reality as its global sales drop and profits plummet. With fierce competition from domestic rivals and global titans, the company's stock price has plummeted. However, BYD finds a glimmer of hope in its overseas sales surge, particularly in Europe, where it has outsold Tesla. The company plans to build more factories abroad and launch new stores, aiming to make half of its sales from outside China. Despite the intense competition, BYD remains optimistic about its future growth.
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