BYD exhibits its cars ahead of the Munich Motor Show in September.
Photographer: Krisztian Bocsi/BloombergThe Big Take
Chinese Carmaker Overtakes Tesla as World’s Most Popular EV Maker
Elon Musk once scoffed at the notion that BYD could compete with his company. Now, the automaker run by billionaire Wang Chuanfu is poised to be the new No. 1 in electric vehicles.
China’s BYD Co. bills itself as the biggest car brand you’ve never heard of. It might need a different tagline soon.
The automaker is poised to surpass Tesla Inc. as the new worldwide leader in fully electric vehicle sales. When it does — likely in the current quarter — it will be both a symbolic turning point for the EV market and further confirmation of China’s growing clout in the global automotive industry.