Can BYD beat Tesla at its own game one day? Is this an affordability vs. an aspiration game? PCL 59

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BYD versus Tesla - Who will lead the EV world tomorrow?
#electricalvehicle #EV #Tesla #BYD #Elon Musk #chinasnewnormal

00:00 Can BYD beat Tesla in Electrical Vehicles? Despite the fact that BYD has a broader offering and is not less innovate than Tesla, and a lot cheaper too, Tesla is still outcompeting BYD, even in their home market China.
01:30 What is the story behind BYD? BYD started in 1995 as a battery company. In 2008, when Warren Buffet invested in BYD, that made them the Chinese Electrical Vehicle company today. Now their new EV cars, like the dolphin, is an inexpensive car with same quality as a great combustion car, affordable for everyone. That is a game changer.
06:43 What key opportunities does BYD have? Their main opportunity is due to them being the market leader in battery production. Their main opportunity is as the player globally as vertically integrated energy storage supplier.
08:37 What challenges is BYD facing? Their biggest challenge is to compete with the 400 Chinese EV manufacturers in their home country. BYDs main weakness is its PR communication, which is incomparable to Tesla’s. Raw materials could pose another challenge in the future.
10:25 How is BYD doing on providing ultimate convenience? Their connectivity to the charging network is a real convenience in China. As far as safety in batteries they are also the king in this space, which is not unimportant. But the real convenience is that BYD offers a great car, at good driving range and excellent price.
12:20 Is BYD a partner in life? Yes, because they are offering a car for the masses. This connection with 5G and the infrastructure makes BYDs cars most useful for people, whether it is about offering digital connectivity or connecting to the power-grid to make everyone’s car a floating battery for the home.
13:41 How is BYD changing society and the world? The main value of a battery company is of course to resolve the environmental pollution. BYD is also fully aligned with China’s 14th 5-year plan on environmental goals. So BYD is becoming a key player into tomorrow’s sustainable world.
14:53 What is the story behind Tesla? Tesla is worth more than any other car manufacturer today. Tesla is more than a car manufacturer. They are an energy company, a battery company and a software company, and an AI company. That combination makes them quite unique as a mobility or energy partner. Actually Elon Musk is an expert in building up the dream for the market and investors.
16:45 What challenges is Tesla facing? Their main challenge is to keep up production considering the growth potential of the EV market. And that combined with competitors all around the world who have more manufacturing experience, it will remain tough as they had very little competition globally so far as the EV market had to mature still.
18:19 How is Tesla doing on providing ultimate convenience? Tesla has done an outstanding job in providing, even reinventing convenience in car industry in terms of sales, maintenance, and marketing. As for marketing, since the pandemic, new marketing models like from Tesla are emerging where you bring the service to the customer - it’s about being where the customer is. Their website is so convenient, that before you know it, you ordered a car. This is a big difference from the cumbersome experience to configure your car with most other brands. Even for software updates, there is no need to go to the dealer anymore.
20:32 Is Tesla a partner in life? Tesla’s goal is not to sell you a car, but become an energy and mobility partner. Especially when self-driving cars will be a reality, the opportunity for Tesla is huge. For example with ride sharing, even if you are not a Tesla customer, you could use their mobility services to travel around. Owners of Tesla’s could make extra money when not using their car; or Tesla could help you reduce your energy bills for sharing some energy with others when you don’t need it; maybe even through the solar panels from Tesla on your roof.
21:36 How is Tesla changing society and the world? Their mission statement says that Tesla wants to accelerate the world’s transition to sustainable energy. Their dream is to bring the world’s carbon emission to zero, and they are contributing a lot to make that happen.
22:34 Who has the best offer that we can’t refuse? Both companies want to be more than a car company, and aim to be a mobility partner and energy company, but Tesla and BYD’s strategy are almost opposite. Tesla is a going top-down from high-end cars and experience to make money to then go to mass market; while BYD is focused on mass-market and many vehicles as a vertical integrated battery supplier.

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