More trouble for Tesla as China's BYD crosses $100 billion barrier
Business InsiderMAR 25
Chinese Electric Carmaker BYD Surpasses Tesla in Revenue
Above: The BYD Shark 6 at the 2025 Bangkok International Motor Show in Bangkok on March 24, 2025. Image copyright: Chanakarn Laosarakham/Contributor/AFP via Getty Images
The Spin
Pro-China narrative
BYD is the future of automotive innovation, offering superior charging technology, competitive pricing, and comprehensive features like the free "God's Eye" driver assistance system in all models. Its success stems from its vertically integrated supply chain, which produces its own batteries, semiconductors, and electric drivetrains. This enables pricing flexibility and rapid scalability compared to Tesla's reliance on suppliers.
Anti-China narrative
Tesla maintains its technological edge with more advanced Full Self-Driving capabilities and higher profit margins despite facing unfair competition from Chinese manufacturers who benefit from government subsidies and support. BYD's global revenue has exceeded Tesla's due to market distortions and trade tensions — whether it can beat Tesla as a high-margin player remains the ultimate test.