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How Tesla and its Chinese competitor compare, in 4 charts
https://www.cnn.com/2024/04/03/cars/china-tesla-byd-competition-hnk-intl-dg/index.html
1. Tesla is the most valuable car company in the world
Elon Musk's Tesla became the world's most valuable automaker in 2020 and has kept the number one spot since then. Second place Toyota, while comfortably ahead of its other rivals, still has a long way to go before it can dethrone the American giant.
Top 10 largest automakers by market capitalization, in billions of dollars
2.
3.
Tesla’s cars are still a lot more expensive than BYD’s, even after cutting prices
Competition between Tesla and BYD in China is heating up following significant price reductions on their vehicles last year in the largest car market. Tesla's Model 3 remains three times more expensive than BYD's most affordable car and double the price of its Yuan Plus.
How BYD’s cheapest car and one of its best-selling vehicles compare to Tesla in China
BYD Seagull
Tesla Model 3
Tesla Model Y
BYD Yuan Plus
In March 2024, BYD slashed
the price of their cheapest
model by 5% to 69,800
yuan or about $9,700.
Known as the Atto 3 outside
of China, prices start at
119,800 yuan or about
$16,600.
The lowest end of the
Model 3 retails in China for
245,900 yuan or about
$34,000. The price in the
US starts at $38,990.
The lowest end of the
Model Y retails in China for
266,400 yuan or just below
$37,000. The price in the
US starts at $44,990.
$9,700
Price of Tesla’s Model Y
in China starts at $37,000
Note: Tesla Model 3 and Model Y prices are shown without incentives, federal tax credit, and gas savings.
Sources: Tesla, xcar.com.cn, Reuters. Photos courtesy of Tesla, Getty Images
Graphic: Rosa de Acosta, CNN
4. Tesla and BYD are expanding manufacturing for passenger vehicles beyond their home markets
Both automakers have announced plans to invest in and develop manufacturing plants and factories abroad to reduce export costs and increase sales in regional markets. Tesla announced plans for a new factory in Mexico in March this year and BYD is expanding in Southeast Asia, South America and Europe.
