BYD has reported record annual revenues of $107 billion, beating the $97.7 billion reported by Tesla.
Sales by the Chinese electric vehicle maker surged nearly a third last year as the company shifted away from the “price-for-volume” approach aimed at cornering market share towards flashier, tech-laden models.
Last week founder Wang Chuanfu unveiled an “all liquid-cooled megawatt flash-charging terminal system” that can add about 470km range in five minutes.
That’s twice as fast as the latest generation of Tesla chargers.
BYD also offers a ‘God’s Eye’ self-driving system on budget models and is in talks to include DeepSeek AI in its vehicle systems.
Tesla recently recalled 46,000 Cybertrucks due to improperly fixed door panels.
Making bets about the EV arms race based on short-term results from two companies is a fool’s game.
But it’s worth asking: has Chinese state-led innovation created a 21st century Ford?
