The European CEO of Chinese manufacturer BYD, Michael Shu, wants to distance himself from comparisons made between his company and Tesla. He insists that BYD’s trajectory and vision are unique.
BYD is certainly the Asian manufacturer that has the most resources to overshadow Tesla. His vehicles are more than serious. The Seal sedan is aimed directly at Model 3 fans and the Seal U SUV is there to stand in front of the Model Y. However, BYD wants to mark its territory. In an interview given to Automotive News EuropeMichael Shu explains why the label “Chinese Tesla” that we readily attach to BYD does not do the company justice.
Divergent strategies
In reality, if we give this name to BYD, it is rather because of the look of its cars which is reminiscent of its American competitor and the segments they occupy. However, Shu insists by explaining that “ the strategies are very different » between the two brands. Indeed, BYD is not just content to produce electric cars under a single brand and has other arguments.
“ BYD has an extensive portfolio of brands and technologies, including plug-in hybrids, while Tesla only makes electric cars with a single brand » reminds Shu. BYD has several brands, each targeting a specific market segment: BYD for entry-level models, Denza for the upper segment and Yangwang ” at the top » according to Shu’s words. The latter has just unveiled a hypercar, the U9.
BYD, on the rise
The company has quite serious ambitions, and for the moment it seems to be succeeding. In 2023, BYD not only dethroned Volkswagen as the top automaker in China, but also surpassed Tesla. It has thus become the world leader in electric car sales. Not so bad for a brand that isn’t even thirty years old!
BYD also has the European market in its sights and would like to target 5% of the European electrical market, or around 70,000 units. We understand that BYD wants to have its own brand image and no longer be considered a simple ersatz of Tesla. Getting rid of this image may take a little time as Musk’s company has indirectly advanced the electric market for 10 years.
Source : Clean Automotive
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