What is BID? Explanation of Tesla's Chinese rival
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BYD stands for "Build Your Dreams".
BYD, or BYD Auto Co Ltd if you want to use its full name, is a Chinese automotive company founded in 2003 and based in Xi'an, Shaanxi province that manufactures a range of electric vehicles, plug-in hybrid vehicles and gasoline vehicles. motorized vehicles, as well as buses, trucks, electric bicycles, forklifts and batteries.
Aside from the thought of dealing with his son X Æ A-12 after his first day of school, BYD is likely to make Elon Musk break out in a cold sweat: his market capitalization could reach 1.5 trillion yuan in 2022. this means it could become the world's largest electric vehicle manufacturer within Tesla's reach.
While he may not want to admit it - anyone who calls their line of models "S, 3, X, Y" probably always wants to sound like an alpha male - BYD is, in many ways, everything Tesla wants. be: a diversified electric vehicle and electrification company.
While Tesla entered the game by making electric vehicles and then announcing plans to diversify into other segments, BYD did the exact opposite: a few years ago it started as a battery manufacturer, supplying products to other industries such as mobile phones, and has since since moved on to the production of solar panels, large-scale battery projects and electrified vehicles, including cars, buses and trucks.
BYD is already generating money from various markets, while 90% of Tesla's revenue currently comes solely from sales of electric vehicles.
On top of that, there are rumors that Tesla was supposed to make a deal with BYD for 10 GWh, which means 200,000 kWh batteries per year.
While BYD currently sells most of its vehicles in China — it had the second-highest sales figures for electrified vehicles between January and October 2021 — it has expanded into Europe, and its Tang EV is already the top seller in Norway.
What does BYD mean?
Slightly Disneyish "Build Your Dreams". If becoming the world's third-largest automaker by market capitalization ($133.49 billion) after Toyota and Tesla was BYD's dream, then there will be a lot of enthusiasm at BYD's headquarters in 2021.
Who owns the WORLD?
BYD Automobile and BYD Electronic are two major subsidiaries of Chinese multinational BYD Co Ltd.
Warren Buffett, BYD: what's the connection?
American business mogul Warren Buffett, worth an estimated $105.2 billion as of November 2021, is the CEO of the American multinational holding company conglomerate Berkshire Hathaway, which owns a 24.6% stake in BYD, making him the company's second-largest shareholder.
Will BYD come to Australia?
Yes. BYD has big plans for Down Under, with two models already on the market: the T3 all-electric two-seat van and the E6 EV small station wagon.
Through local importer Nextport, BYD plans to introduce six models in Australia by the end of 2023, including the Yuan Plus all-electric SUV, an unnamed high-performance performance car, the Dolphin EV city car and an electric vehicle intended to compete with Toyota. Hilux from your seat.
Nextport also announced plans to build a $700 million facility in the Southern Highlands of New South Wales that will house a research and development center and possibly even begin electric vehicle and bus production in the future.
WORLDWIDE car price
BYD said that three of the six cars it put on the Australian market will cost around $35-40k, making them the cheapest electric vehicles in the country, undermining the former champion MG ZS EV which costs $44,990.
TrueGreen Mobility has partnered with BYD in Australia to launch a direct-to-consumer online sales platform that takes dealers out of the sales process, a move that could reduce a car's retail price by 30 percent.
WORLD of cars in Australia
BID T3
Cost: $39,950 plus travel expenses
A commercial compact van designed for fleets and urban delivery businesses, this all-electric two-seater usurped the MG ZS EV as the cheapest electric car in Australia. The T3 has a range of about 300 kilometers and a payload of 700 kg.
BID-E6
Cost: $39,999 plus travel expenses
This small station wagon has a long range of about 520 km from a 71.7 kWh battery and a single 70 kW/180 Nm front electric motor.
BYD cars coming to Australia in 2022
BYD Dolphin
Cost: TBC
This small hatchback boasts an impressive range of more than 400 km, as well as a rumored asking price that's even more impressive: under $40. Known overseas as the EA1 but given a more Seaworld-friendly name here, expect it to arrive in Australia in mid-2022.
BYD Yuan Plus
Cost: TBC
With a 150kW/310Nm electric motor and a lithium-ion battery with a range of around 400km and a rumored cost of around $40, Yuan Plus is expected to significantly shake up the local compact SUV market.
