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Christopher Ho
@Chr1stopherHo
BYD isn't just beating Tesla - it's humiliating them: • Sold 4 Million EVs in 2024 (Twice that of Tesla) • Tesla, Ford, and Toyota fight over its batteries • Warren Buffett invested $232M for a 10% stake How China quietly built BYD into the world's biggest EV empire 🧵
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Tesla beat BYD in pure EV Sales. The 4 million mentioned in this post does include plug-in hybrids. electrek.co/2025/01/02/byd…
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David Watson 🥑
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Christopher Ho
@Chr1stopherHo
Elon Musk once laughed at BYD for competing with Tesla. But the same company forced Tesla to sell their cars at dirt cheap prices and is now ambushing Elon to back out of China. How a "man you've never heard of" pressured Elon to rethink everything 👇
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Christopher Ho
@Chr1stopherHo
In 1995, a chemist named Wang Chuanfu started BYD making batteries for Nokia phones. In 2003, with ZERO car experience, he bought a failing state-owned automaker Everyone laughed until Warren Buffett invested $232M for a 10% stake. But the story starts with the Chinese govt...
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Christopher Ho
@Chr1stopherHo
20 years ago China was on track to become the largest importer of oil. The auto industry was growing, meaning their dependency on oil would increase even more. Also, foreign players dominated the Chinese automotive market. The govt had to act, and they had to act FAST...
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Christopher Ho
@Chr1stopherHo
China realized they would never catch up to Japan or Germany in combustion engines. That race was already lost. So they made a key decision: Skip gasoline cars entirely and dominate EVs instead. The Chinese govt poured $29 billion into EV development between 2009-2022.
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Christopher Ho
@Chr1stopherHo
You see, the battery typically accounts for 30-40% of the total cost of an EV. So China started acquiring mines globally and building refineries for every battery mineral. Today China controls: • 100% of graphite refining • 75% of cobalt refining • 60% of lithium refining
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Christopher Ho
@Chr1stopherHo
Even if other countries mine the materials, they still need China to refine them. China also enacted policies giving BYD an immediate scale. The city of Shenzhen alone converted 16,000 buses to BYD electric models. Instant volume, instant revenue.
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Christopher Ho
@Chr1stopherHo
Then BYD launched its "Blade Battery" - an LFP battery that: • Uses no expensive nickel or cobalt • Charges to 80% in 30 minutes • Has unprecedented safety (can be punctured without catching fire) • Costs 30-40% less to manufacture
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Christopher Ho
@Chr1stopherHo
In 2020, BYD's blade battery passed the infamous "nail penetration test" that made other EV batteries explode. When they pierced the BYD Blade Battery with a nail—nothing happened. No fire. No explosion. The industry was in shock. And even Tesla couldn't ignore it.
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Christopher Ho
@Chr1stopherHo
By 2022, Tesla began buying these batteries from BYD for its Berlin-made Model Y. But it's not just Tesla—BYD batteries now power vehicles from Toyota, Kia, and Ford. Even Apple partnered with BYD for their secret car project.
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Christopher Ho
@Chr1stopherHo
BYD makes everything in-house: • Mine their own lithium • Refine their own minerals • Make their own chips and semiconductors • Build their own batteries • Produce their own motors This allows BYD to build EVs at costs that terrify Western automakers.
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Christopher Ho
@Chr1stopherHo
In 2023, BYD launched the Seagull—a modern, 200-mile range EV for just $11,500. That's 1/4 the price of Tesla's cheapest car! How is this possible? BYD's profit per vehicle is just $1,200 compared to Tesla's $9,000. They're playing the VOLUME game while Tesla chases margins.
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Christopher Ho
@Chr1stopherHo
BYD's production capacity exceeds 4 million vehicles annually. In 2024, BYD overtook Volkswagen to become the best-selling car brand in China. BYD's R&D operation is impressive too: • 100,000+ R&D staff • 39,000+ patents • $5.7B annual R&D budget (exceeding Tesla's $3.9B)
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Christopher Ho
@Chr1stopherHo
Wang Chuanfu didn't run BYD alone. He built a team of elite operators who handled day-to-day execution while he focused on the 20-year vision. This is what level 5 of delegation looks like.
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Christopher Ho
@Chr1stopherHo
If you found this thread valuable: 1. Follow me
@chr1stopherHo
for more threads on entrepreneurship and delegation. 2. RT the linked tweet to spread the word.
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Christopher Ho
@Chr1stopherHo
BYD isn't just beating Tesla - it's humiliating them: • Sold 4 Million EVs in 2024 (Twice that of Tesla) • Tesla, Ford, and Toyota fight over its batteries • Warren Buffett invested $232M for a 10% stake How China quietly built BYD into the world's biggest EV empire 🧵
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Readers added context
Tesla beat BYD in pure EV Sales. The 4 million mentioned in this post does include plug-in hybrids. electrek.co/2025/01/02/byd…
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55K
Whole Mars Catalog
@WholeMarsBlog
Actually, Tesla sold more BEVs than BYE in 2024. You’re including BYD’s gas powered plug in hybrids. Of course there are many companies that sell more gas cars than Tesla. But Tesla is the largest manufacturer of pure EVs in the world
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Cesar Schotborgh
@SchotborghCesar
Have you driven a BYD and a Tesla the same day? The difference is night and day. BYD sells more because it has an EV for less than USD 17 K; even like that, they don't have the best-selling EV.
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Mick Near San Diego
@MickSandyland
For the record it was Warren's partner Charlie Munger who bought the stock for BH after a tip from investor Li Lu. As of 2025 Warren has now sold almost all of their BYD position.
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2025
@jcl4tx
😂 Buffett exited that play. BYD is an amazing company. They build electric busses in America and battery tech is crazy good but you don’t understand. Tesla is so far ahead of any ev company in the world. 😂 $tsla don’t even hold patents and still no one can catch up.
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Christian
@loveallaroundu
BYD IS NOT selling more BEVs than Tesla! Yet! And comparing a manufacturer that includes combustion engines vehicles with a small battery (EVs)🔋 is NOT accurate! But I guess you know this.. BYD is doing a good job, but they have too many models and no profit margins on most of
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Don Naile
@ClermontITStore
Just the facts, BYD bundles both hybrid and EV sales together. So they actually sold less EV than Tesla. BYD started as a battery producer long before Tesla came to market. Yes, BYD is bigger than Tesla but not in pure EV sales.
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tslataur
@tslataur
Selling 4 million $10k shit boxes isn't comparable to selling 2 million best in class vehicles. Love the hype though. BYD is one of those that I'd be more likely to short than invest, surely you know how mainland co's manage books, they survive because of gov't injections.
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KarmaWarrior
@merovingian_man
Warren Buffett's Berkshire Hathaway has been gradually reducing its stake in Chinese electric vehicle maker BYD, and by July 2024, it had dropped below 5% ownership, meaning they are no longer obligated to disclose further sales
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Mr. Reese
@drsurio
> Sold 4 Million EVs in 2024 (Twice that of Tesla) Conspicuously missing in the analysis is the very likely possibility they're riding an anti musk wave, nothing else.
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🫶 JCV
@jcvbavaria
That's not true: Last year, in 2024, BYD sold 1,764,992 EVs .. The rest of their sales are ICE cars (hybrids) .. So they still need to transition to 100% EVs and then we'll see how profitable they are 😉
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Mathieu G.
@mathieu_gillion
Stop including Hybrids in Ev category ! Hybrids are ICE vehicle with tiny batteries … on 100% EV Tesla and BYD are quite similar on yearly production !
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James Rose
@youtubeTeamJG
Why are their payment times to their suppliers blowing out massively? They also sell a number of significantly cheaper vehicles (many of them hybrids) which have a much higher TAM. Follow
@thejefflutz
for more information.
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Mr Limbu
@Tumbaa14
How much is BYD’s Profit per vehicle?? How much is BYD’s eneegey storage growing? Do they have fsd launching this year? Are they making humanoid robots? BYD is not beating Tesla, in fact, its selling more cars than Tesla.
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Volatility Trading
@VolatilityVIX
American's likely still think Chinese cars are as bad as they used to be, and rightfully so, they used to be a joke I'm telling you, I've tested them and these new BYD models are INCREDIBLE! They make Tesla look like fake toys in comparison
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Ran
@FeberPitch
BYD had one quarter of higher sales than Tesla but so far never a full year. They also have much lower margins at lower prices to so both revenue and profits are far lower than Tesla.
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BlB🐳
@nebhol89
This is just wrong. You’re including BYD’s hybrid vehicles.
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Hodler without borders
@HodlerWB
Next time, please verify numbers before investing your time on writing a thread slamming Tesla. May be you can say good things about BYD, quite deservedly, and not bad-mouth Tesla while doing so?
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Abhay S Kapoor
@AbhayConnects
Be it Tesla or BYD or any other i feel EV is going to be the next big technology bubble that will one day soon burst & leave behind a major problem of battery scrapping & inoperable infrastructure laden with high costs. Hydrogen based engines is a better alternative.
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Hunter
@huntsyea
Cherry picking data points. Also, BYD experiences significantly more depreciation across models than Tesla which is saying something
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Scin
@hjertefl1mmer
Parody account
It all makes sense now. The anti-america hate is all about making China appear stronger. It was never about russian disinformation, it was always chinese supremacy. Looking forward to social credit and reeducation camps!
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DigitalFoogazi
@PassCombo
Looking 🔥 but basics most important: security tests, including battery safety and also comfort,and durability. Tesla is said to be good in road safety so I want to see BYD humiliate Tesla there.
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JD
@JD78741001
Tesla is quite on this simply because of the deal for getting data analysis from vehicle owners of Tesla 😉
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Josh
@JoshEscusa
They did it by including PHEVs and by dropping their margins to $1000 per vehicle as opposed to Teslas margins of $9000 per vehicle.
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𝐄𝐦𝐩𝐞𝐫𝐨𝐫 { 𝐗 }
@ZHD_888
Exactly two years ago, I told my friends about BYD shares. And an XRP coin , but smart people laughed at me . Well, like a fool, I acquired these assets in my portfolio. Conclusion: people listen to the masses
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Wei KS
@kswei
When reporting anything in china, need to be more specific in the terms use.. many people make the same mistake.. it's not 4 million EV, is NEV and for EV, it is 1.76 millions which is easily google / Baidu out. But no worry, u are not the 1st one who make the same mistake.
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horsie_attack
@HorsieAttack
China’s EV juggernaut just curb-stomped the darling of Silicon Valley. BYD is eating Tesla’s lunch, selling double the EVs, powering their rivals, and stacking Buffett’s money on top. This is the quiet storm from the East, time to accept there’s a new emperor in the electric
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Reid (RWB Bets)
@nworbdier
Tesla sold 657,000 cars in China in 2024. BYD sold 0 cars in the USA in 2024. China has 4x as many people. Sit down lil bro
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Hitendra Lakra
@hitenlakra
Since there is a tariff issue going between USA-Canada it is a chance for BYD to enter Canada market and take over Tesla market? I don’t know 🤷‍♂️ maybe 🤔 I am talking nonsense?
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Mike
@anothervariable
Never heard of them or even seen one till you mentioned it, I do however see Tesla's and even Rivians everywhere.
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TheRealist
@marcuscent
But it's called Build Your Dream. Horrible branding means I'll never own one. I'm a Tesla bull but I've ordered a Zeekr.
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Hodler without borders
@HodlerWB
is this more or less than the number of cars sold by Tesla?
Answer by Grok, expand to see full conversation
You asked how many BEVs (battery electric vehicles) BYD sold in 2024, and I provided that BYD sold 1,764,992 BEVs in 2024. Now, you're asking whether this is more or less than the number of cars sold by Tesla. Since BYD’s figure is specific to BEVs and Tesla only produces BEVs, I’ll compare these directly. Tesla delivered 1,789,226 vehicles in 2024, all of which are BEVs, as reported by Tesla on January 2, 2025. Comparing this to BYD’s 1,764,992 BEVs sold in 2024, Tesla sold more BEVs than BYD by a margin of 24,234 vehicles. So, to answer your question: BYD’s 1,764,992 BEVs sold in 2024 is less than the 1,789,226 cars sold by Tesla in the same year.
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