Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker
Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker
Elon Musk once scoffed at the notion that BYD could compete with his company. Now, the automaker run by billionaire Wang Chuanfu is poised to be the new No. 1 in electric vehicles.
Can't you also name this brand. The majority of the people here know it anyway.
Funnily enough the TSLA stock is 800 billion and the BYD stock is 75 billion.
Funnily enough the TSLA stock is 800 billion and the BYD stock is 75 billion.
That's because Tesla is extremely overvalued, because Musk is a con man, who promises Tesla will lead AI for fully autonomous driving, and basically promises that when that happens, it's nearly infinite money. In reality they are currently #4 at best in AI for self driving.
I'm guessing BYD is valued more by criteria similar to VW and Toyota.
PS: Yes I know half of infinite is still infinite. But I hope you all understand what I mean. 😋
Until this year, most of the analysts weren't really including FSD in any of their projections. They were projecting Tesla maintaining the really high margins instead of high margins. Some are adding AI in now.
When the really high margins became high margins, things changed pretty rapidly.
Of course retail investors amd what actually happens is different, and it's hard to deny there must be some impact beyond what analysts are saying, but I don't think it's as much FSD as people think it is.
Edit: analysts weren't even including the energy business either, but thats about to change too.
Can’t you also name this brand. The majority of the people here know it anyway.
It's literally the original headline from the article, which is considered good posting ethics. Why would you want posters to editorialize headlines?
How would that majority here know it? I assume most here aren't Chinese, and these cars are pretty new to most markets outside of China.
I personally had never heard of them, so thanks for mentioning the ticker so I could look it up.
What are each of their earnings and prospective earnings?
Market cap isn't 1:1 with units sold
Teslas sept 2023 q3 operating margin was 11.18% and peaked at 16 before all the cuts. This is while ramping 2 factories.
BYDs latest seems to be 5.33% and peaked around 9.5 in 2018 and has been under 8 since. I don't know what BYDs factory ramping situation is.
Ford for the past couple years has hovered a little above and below 4. Was worse further back.
Honestly? Good.
Maybe this will actually push EVs to be the most common vehicle type.
Ya a lot can happen in 10 years.
In the 10 years since, Musk has changed his tune from one of derision to one of respect, saying in May: "That was many years ago. Their cars are highly competitive these days."
This is something to keep in mind because he has kept the same car designs for a decade. BYD has continually updated their hardware and designs. Musk isn't leading Tesla; he's at the helm while it coasts along, losing the momentum needed to move into the future.
I want to see battery ranges of 400-450 miles for $25-30,000 before I’ll consider it. I have a PHEV and the range is inflated. It gets 2/3rds of what it claims. To get what it claims, I’d need to do 20 miles an hour everywhere. That’s obviously not happening. Tesla also has range issues and gets much less than claimed… to the point where they got in trouble for it.
Pay wall, but AFAIK they aren't past Tesla yet, all these comparisons include PHEV.
That said, it's believed they may pass Tesla in 2024 for pure EVs
PHEV?
Plug in hybrids electric vehicle.
Gas engine + battery
Most popular does not equate to better.
Countless ev cars were made and dumped in massive Chinese car burials just to achieve certain sales records and government mandated KPI
They're on sale here in NZ and seem pretty popular.
I wouldn't say that they're popular yet, but I have seen a couple on São Paulo streets
These were carshare cars abandoned after the bubble burst. Also, that's Geely, a different company that also sponsors a popular taxi service which almost exclusively uses Geely EVs to transport passengers.
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Indeed, Tesla's have such a great reputation..
How many of these just stand in China's EV graveyards?
@boem
I'm trying really hard to care about that.
But I think I'll just just say: 中华人民共和国万岁 !Fuck China
@Kbobabob The economy that drives the world? Later this century the US will be driving Geely cars and shooting guns made of Bao Shan steel. Then, with the world economy in it's pocket , the PLA will start exporting Communism to those countries defaulting in their debt. Chinese 'capitalism' is a means to an end, as those getting rich on it will find out.