In 2024, BYD has surpassed Tesla in electric vehicle production, indicating a growing trend towards more affordable Chinese EVs in emerging markets. While BYD produced 1.78 million electric vehicles compared to Tesla’s 1.77 million, the difference is a sign of the increasing popularity of cheaper alternatives from China. Reports suggest that affordable electric vehicles are expected to outsell traditional petrol and diesel cars in China this year. Despite this, the Biden Administration’s tariffs on Chinese vehicle imports may hinder BYD’s success in the US, prompting the company to focus on markets in Southeast Asia, the Middle East, and South America.

The increasing quality and competitiveness of Chinese EVs, such as those produced by BYD, highlight a narrowing gap between Eastern and Western automotive industries. BYD’s vehicles are praised for their high-quality equipment, reliable in-car technology, and impressive battery range at significantly lower prices compared to Tesla’s models. On the other hand, Tesla has faced criticism for inconsistent build quality and slower advancements in battery technology. While companies like MG are introducing top-notch products with innovations like Solid State Battery technology for extended ranges, traditional North American automakers seem to lag behind in EV innovation, relying more on hybrids and gas-powered vehicles rather than keeping up with the rapidly evolving global EV market.