Somewhat of a balanced story on BYD from Bloomberg. They even interviewed Taylor Ogan. I would say they are still just fundamentally unaware of how much BYD has this thing figured out. It's really hard to ramp up production of EVs unless you can get the entire supply chain in order. It's kind of laughable to me that they think Toyota can just rmap it up take over from BYD. They also missed out on why BYD hasn't been as profitable. They think it's because BYD is pricing their cars too low, when in fact it's because they are ramping up faster than any automaker has ever done.
I took a look at rankings of the top 10 automakers from 2021. Toyota was #1 with 10.5 million and VW was #2 with 8.6 million. BYD will easily enter top 10 in 2023 and in a couple of years, it will be top 5.
It's been a while, but BYD will finally be distributing those Atto 3s to customers next week. Dolphin and Seal are likely to be rolled out by end of 2022. I'm hoping for some nice youtube clips once that happens. Maybe the Electric Viking will finally get his car.
This is great, Shell expanding EV charging stations in China. I think a while back, there was a story of BYD/NIO working with Shell to expand EV chargin in Europe. That has to be the way forward.
This should be obvious to everyone here. Most of Tesla Shanghai production is going to export market.
Tesla may say that more cars will be available for local market in second half of Q3, but we will have to see. BYD is out selling Tesla almost 5 to 1 in first half of August.
As for employment, I think it's inaccurate to just assume that BYD is taking workers from other car makers. Keep in mind that they have their own construction company, auto parts production, battery company (Fudi), chip making companies and such. Even for the parts they do buy externally, they mostly stick with other Chinese companies. If you've ever seen photos of new BYD construction site, you would get an idea of how many local workers they employ. So, their entire model brings jobs domestically. And the revenue ends up in China and reinvested in China. All this revenue will be fed back to the Chinese economy. They also do this across China. They open bases in all these places that don't traditionally have auto or battery industry. They don't have any factories around Shanghai. All of this raises prosperity in poorer provinces and 2nd/3rd/4th tier cities.
Think about it this way. While FAW/SAIC-VW JVs may still produce most of the cars in China, they source parts from Germany and Europe. All the profits and stock dividends end up in Europe and get re-invested in German economy. With BYD, everything is produced in China. All the revenues stay in China. All the exports are shipped across the world in Chinese shipping companies. All the profits are re-invested in hiring more engineers and building more homes/factories and spent locally.
And of course, all the exports they will have in the future are also bringing money/jobs in. btw, there is no proof that BYD's EV factories necessarily require fewer workers than a legacy ICE factories.
