China's BYD outsells Tesla and other carmakers as it eyes becoming Europe's biggest EV player

The Chinese carmaker outsold Tesla in the last quarter of 2023 and has ambitions to be the biggest electric car manufacturer in Europe by 2030.

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00:35 - The biggest difference if you kind of look at them

00:36 is kind of where they compete.

00:38 Tesla still kind of has a kind of any style and design

00:42 and there's kind of real desire around that kind of

00:44 Tesla badge and brands now.

00:46 Whereas BYD much more competes on price.

00:49 BYD is really looking to expand globally.

01:03 So in the last couple of years it's started selling cars

01:05 in Europe and it really does have kind of bold ambitions

01:08 to kind of keep growing in Europe.

01:11 It's planning to build a new factory in Hungary

01:12 to make cars locally in the region.

01:15 And it's got plans to sort of become,

01:17 the aim of becoming the biggest kind of car,

01:20 electric car manufacturer in Europe by 2030.

01:23 Which sounds like quite a crazy ambition,

01:26 but actually when you see the kind of speed

01:28 in which they're growing, it does feel feasible.

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01:33 You have Tesla which is a kind of American startup

01:44 and you started just over a decade ago.

01:46 And BYD which is a Chinese firm that only really

01:49 started making cars about 20 years ago.

01:51 And they're competing to be the world's

01:53 biggest EV manufacturer.

01:54 At this point that means that all the big legacy firms

01:57 like Volkswagen and Ford and Honda and Toyota

02:00 are actually playing catch up to these two firms

02:03 that kind of just weren't on their radar

02:05 five, 10 years ago.

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