South Korean media: Not affected by Trump's tariff, BYD's export target doubles!

On April 23, the South Korean newspaper Chosun Ilbo published an article stating that last year, China's electric vehicle manufacturer BYD's annual sales exceeded those of the American electric vehicle manufacturer Tesla for the first time. The US import car tariff seems to further highlight its competitiveness. BYD has very little dependence on exports to the United States, so it is almost not directly affected by the tariffs imposed by the Donald Trump administration. The slowdown in Tesla's sales may also be an opportunity.

According to industry insiders, BYD's goal this year is to sell 5.5 million vehicles globally. It aims to sell approximately 800,000 vehicles outside of China. This is nearly double last year's figure (417,204 units). Last year, BYD's global electric vehicle sales increased by 43.4% year-on-year to 4.137 million units, more than double that of Tesla (1.789 million units). In terms of market share, BYD ranked first with 23.5%, while Tesla ranked first with 10.1%.

BYD achieved its first sales surpassing Tesla due to overwhelming sales volume. Last year, BYD's sales reached $107 billion, a year-on-year increase of 29%. Tesla's sales last year were $98 billion. BYD became the first global electric vehicle company to exceed $100 billion in annual sales.

Due to US President Donald Trump's announcement of import car tariffs, BYD's growth is expected to accelerate further. BYD has achieved diversified export destinations based on its strong domestic demand market and does not have a high proportion of exports to the United States, so it is actually unaffected by tariffs. South Korean, Japanese, and German automakers are concerned about the consequences of tariffs, including supply chain disruptions and price increases.

American company Tesla is also relatively unaffected by tariffs, but the prices of imported automotive components from overseas may rise. All vehicles sold by Tesla in the United States are produced at factories in California and Texas, but many automotive components such as engines and raw materials are imported from countries like Canada and Mexico, making cost increases due to tariffs unavoidable.

The internal and external operational uncertainties surrounding Tesla are increasing. Due to the lack of new models, aging models, and dissatisfaction with CEO Elon Musk, performance is tending to worsen. Tesla's global sales declined for the first time last year, and its European market sales dropped significantly this year.

BYD is actively investing in various areas beyond pure electric vehicles, including plug-in hybrid electric vehicles, batteries, and charging platforms, continuously expanding its position. Recently, BYD released a technology capable of driving 470 kilometers after a 5-minute charge, shocking the entire vehicle industry. Last year, BYD's R&D investment was 54.2 billion yuan, an increase of 36% year-on-year, and among its 900,000 employees, over 100,000 are engaged in research and development.

Original Source: https://www.toutiao.com/article/1830176772561024/

Disclaimer: This article solely represents the author's personal views.