. The meteoric climb of Tesla to the top of the electric vehicle sector is hard to overstate.. However, the industry now has a new leader. And the investment made by Warren Buffett and Berkshire Hathaway in 2008 is paying off handsomely. Making Buffett and company appear like geniuses once again., The Chinese electric vehicle maker BYD is now making waves in the media. And in addition to that, they are currently exploring the possibility of expanding into other countries. So what is the company doing and how did they overtake Tesla in the EV race? Hey guys Welcome back In this video, we are going to look at BYDs insane plans to take over the electric vehicle industry, But before we do that make sure to click the LIKE and SUBSCRIBE buttons below and lets get to it. You see when compared to its rivals, BYD is in a league of its own when it comes to the production of batteries for EVs. Its because BYD manufactures its own batteries, so it doesnt have to rely on third party suppliers. And considering the current state of the Global supply chain, any opportunity to streamline manufacturing is invaluable.. Interestingly, the business had signed a contract in June to provide Tesla with batteries And so far it appears. The decision was wise for the company. Now an SEC report made by the firm at the start of the month, provided some insight into how successfully production went in the first half of 2022.

. According to the data, BYD moved almost 641000 vehicles in the first half of 2022.. Now this was the highest number of electric cars sold by any manufacturer worldwide, surpassing Teslas total of 564000. So what exactly? What sets BYD, apart from the competition BYD, not only produces more batteries than Tesla, but also undercuts its rival on pricing., And every BYD model is more affordable than its competitors.. Now BYD targets a different market than Tesla, whose customers tend to be more affluent, even though the lower prices come at the expense of power and battery range., And the base price of the BYD Qin, which is the companys best selling electric vehicle, is a mere 28000.. When compared to that Teslas entry level model costs, roughly 50000. BYDs versatility, as a manufacturer, is probably its greatest strength. BYD also manufactures a variety of other electric vehicles, including passenger vans buses, trash trucks, tandem trucks, solar panels, forklifts and even trains.. Byd is also in a better position than its rivals, thanks to its varied business model. And to capitalize on the growing demand for cleaner energy. Byd will look beyond the consumer EV industry to expand into other areas. Right now. Byd is actively expanding sales of its electric transit buses to cities outside of Asia.. This year alone, BYD has signed contracts to sell its electric buses to communities in Scotland, and the states of Washington and Louisiana in the US.. Byd is also at the forefront of the movement toward renewable energy.

. Byd is well known not only for selling electric vehicles, but also for its achievements in other related industries., And the company also has a special emphasis on renewable energy.. Byds proprietary blade battery is designed to address fears about the security of electric vehicles.. The business also creates its own plug in hybrid technology. In addition to solar panels LED displays and Energy Storage. Units. Theyve also made progress, but it hasnt always been smooth sailing.. You see CEO and Founder of Tesla Elon Musk was an early critic.. He believes that the companys products lacked excitement and that its electric vehicles couldnt keep up with Teslas fast speeds.. In fact, the companys automobiles were frequently recalled at alarming rates and sometimes in the double digits at the time. And right now, some cars are still being recalled because of battery problems.. In addition to producing electric vehicles, BYD now sells battery cells to companies like Tesla., Lithium iron, phosphate LFP, for short, is the chemistry that BYD focuses on becoming increasingly common.. Now, to what extent does LFPs revival affect the industry and how might it work to BYDs advantage? Currently, BYD has 8.8 of the EV battery market and ranks as the worlds fourth largest EV battery manufacturer by volume.. However, the company has been expanding faster than its competitors, tripling its output from 2020 to 2021 from 65 GWh to 91 GWh.. Now much of the credit for this achievement goes to the companys decision to increase the production of LFP, the sole battery chemical it currently manufactures.

BYD has cornered the market on LFPs by 2021.. Byd produces more LFPs 38 of the total than CATL 32.6 of the global EV battery market, which is the current market leader., And if the global demand for LFP batteries keeps rising, BYD will surely make a ton of money thanks to its commanding market share.. Also, as of 2020, fewer than one percent of the demand for EV batteries worldwide was met by LFP cells.. The percentage of EVs with LFP cells is expected to rise to 21.5 percent by the end of the year. And with LFP cells being used in half of Teslas car production. That rapid surge is also not all that remarkable. And BYD will soon have Tesla as a customer.. Now what kinds of electric vehicles does BYD sell To start? There is the BYD Qin., The BYD Qin fittingly named after the illustrious and powerful Chinese kingdom is a great compact, hybrid sedan.. This hybrid EV gives you the option of an all electric drive, allowing you to cut down on your impact on the environment. And given Chinas commitment to expanding its network of charging stations. This is one vehicle that epitomizes the promise of clean energy to improve life for everyone.. The BYD E6 is another option., With the unveiling of the BYD e6 a clean power electric MPV Chinese automakers have officially entered the quality car market.. The BYD e6 has the perfect tools for dealing with every task., Its, no wonder that the BYD e6 is popular in service, oriented industries like law enforcement and taxi fleets, given its dependable powertrain and workhorse demeanor.

. In addition to that who is buying BYD electric vehicles. First, to understand, BYDs success, its important to find out who is purchasing its electric vehicles.. After all, they now have more electric cars sold than Tesla.. It appears that most of BYDs efforts are directed toward making sales to businesses, as opposed to consumers. ComfortDelGro made a purchase of 100 BYD EVs earlier this year.. In addition, Singapore Electric Vehicles Pte Ltd bought 500 of the brand new BYD e6 for their private hire. Fleet., Electric buses are another product line for BYD. Twenty BYD K9 city buses are currently in operation by the Land Transport Authority of Singapore.. Four C6 minibusses are used by Tower Transit. And HDT. Singapore operates shuttle transit for condominiums country clubs and educational institutions using various types.. Even though they have varying business requirements, BYD customers include companies like Evfy, SingPost and Aetos. Financial Times, reports that BYD sold 641000 vehicles in the years first half, whereas Tesla sold 564000 and Volkswagen sold 332000.. Now the question now is: what does the future hold for BYD? It may be argued that Japan is the source of the most interesting recent developments for the company.. This month, BYD signed a deal to sell three new models in the country, beginning in 2023., Its because Toyota and Nissan two of Japans, most prominent automakers, were slow to fully embrace the electric vehicle trend, leaving a significant profit window for foreign companies.. To top it all off, BYD isnt, limiting its sights to the Asian market.

Its in the early stages of expanding its sphere of influence to include Europe and North America., And as economies around the world make the switch to net zero emissions. Byds expansion into new markets should further boost earnings.. Now, if BYD keeps moving in the direction its going, it has a chance to become a powerhouse in the EV market and in a wide range of sectors related to clean energy.. So what do you think of BYD and its plans to take over the EV industry? The comments section is open, so make sure to. Let me know what you think And thats it for this video Thanks for watching till the end Before you go, make sure to LIKE AND SUBSCRIBE and click the NOTIFICATION BELL to trigger YouTubes algorithm and see more of our videos on your homepage..