Tesla is no longer the biggest electric carmaker – level 2

Tesla is no longer the biggest electric carmaker

17-01-2024 07:00

China’s BYD quietly became a big player in the electric vehicle (EV) market. The company surpassed Tesla to become the world’s largest seller of EVs.

BYD’s success is a combination of good planning and support from the Chinese government. Government incentives, tax reductions, and a special system of motivation are behind BYD’s rise. The company makes 75% of its parts in-house, which makes the cars a lot cheaper.

BYD is expanding in the world, but it also faces problems, especially in markets where it is less recognized.

Difficult words: surpass (to become bigger or greater than somebody else), incentive (something what supports you to do something, especially money), recognized (when many people know someone or something).

You can watch the original video in the Level 3 section.

What are some of the challenges that BYD faces as it expands globally in the electric vehicle market?

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