In the past, we have seen that US electric vehicle giant Tesla has monopolies in EV cars, but now things are not the same as they were in the past due to the fact that Chinese electric vehicle companies overtake Tesla and produce and sell more electric vehicles in recent years.
In the US, we have only seen Tesla as the largest company that produces electric vehicles in the past few years and doesn’t face any competition. They have monopoly over markets in terms of production, pricing, and supply. However, in recent years, many Chinese companies have emerged in the global EV markets, and people are also moving to these Chinese electric vehicle makers companies especially BYD, which is one of the top EV companies in China.
Although Tesla still has a great global presence since they had control in the EV markets and their brands brought more appeal to their customers. However, the sales of their EVs have declined in recent years as many Chinese companies, including BYD, with high production and supply in the global market, make their EVs more appealing and bring more attraction in many regions, including Europe, due to their efficiency and better price.
The technology is getting more advanced over time, and the competition between Tesla and BYD is growing, which directly supports their clients to get better electric cars in the future that are more advanced and environmentally friendly.
Recently, the Chinese EV company showed interest in opening their production house in one of the European countries to handle the supply-related challenges in the EU market, which shows that the demand for Chinese EV vehicles is growing, and for this, they need to have their unit in Europe to handle this demand of Chinese EV cars.
As per our conversation with BYD users, they claim that BYD EV car models are more updated and have more efficiency. These users also had experience with Tesla vehicles, so this means they made this review based on their experience by making a fair comparison between Tesla and BYD.
Elon Musk is more involved with political activities these days, especially when he bought Twitter/X. Many things have changed during this period. The future will be more challenging for both the US and Chinese EV industry in terms of monopoly over the global EV market.
Both Tesla and BYD are working on innovation in the EV vehicle industry, but many other Chinese EV brands are more involved in bringing efficiency and enrichment to their EV cars and making efforts to capture the global EV vehicle markets.
Disclaimers: This new blog is based on our research and analysis of the market, which might not be error-free, as our aim is to provide you with a fair analysis of every vehicle made and its future.
If you have something else in your mind, you are welcome to write your comments, as we believe in fair and healthy discussion to develop our community.
