BYD considers Tesla 'a partner' in the EV transition
BYD Auto (BYDDY, 1211.HK) unveiled a new supercar that will cost more than $230 thousand. The Yangwang U9 is designed to take on cars from more traditional supercar-makers like Ferrari (RACE) and Lamborghini (VWAGY). BYD is now the world's largest EV maker, officially surpassing Tesla (TSLA) at the end of 2023.
Yahoo Finance Anchor Akiko Fujita sat down with BYD Executive Vice President Stella Li to get her thoughts of Tesla and the EV market.
Li explains: "Without them, I think the global EV market could not run so rapidly. So we respect them a lot. I think they are a partner and also they are like a way together, we can really help the whole world. To educate the market and push the market for transaction."
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Editor's note: This article was written by Nicholas Jacobino
Video Transcript
BRAD SMITH: The biggest EV maker in the world BYD asserting its pricing dominance in the market, unveiling an ultra low cost version of its Dolphin vehicle, coming in at under $14,000. And its luxury supercar topping $230,000. That's quite a spectrum, all in just a couple of days of each other.
Our very own Akiko Fujita sat down with the executive vice president of BYD, as the company looks to make a bigger push outside of China. Hey, Akiko, tell us what you learned from this conversation.
AKIKO FUJITA: Yeah. Brad, you talk about the lower end and the high end, that scale that BYD has been able to establish really been key to their success. It was just four years ago, there were concerns about the company survival. Now, it is the top EV maker in the world, surpassing Tesla in 2023. Selling more than three million cars.
Now, some viewers may remember, back in 2011, Elon Musk was asked about competition from BYD. He laughed off the competition, then, saying, that BYD should be more concerned about survival within the Chinese market. So naturally, that's where I started the conversation with the executive vice president Stella Li asking her how she felt about beating Tesla as the top EV maker in the world.
STELLA LI: We feel like we have a high respect for Tesla. They are marketing leader. They give a great education for the market. Without them, I think the global EV market could not run so rapidly. So we will respect them a lot. I think they are a partner. And also, they are like, we, together, we can really help the whole world to educate the market, to push the market for transaction, and pushing the whole auto industry to transact to the future, electric car.