Part 3/7:
In the United States, Musk's warnings seem to be proving prescient. The Biden administration's tariffs and import bans have provided a temporary shield for American companies like Tesla. However, in global markets, BYD continues to thrive, significantly outpacing Tesla’s performance. In Europe, although tariffs were implemented, BYD's sales soared by more than 170% in April, suggesting that tariffs may not hinder a determined competitor.
Overall electric vehicle sales increased by 17%, but BYD’s figures are staggering, indicating robust growth far beyond that of its competitors. Reports show BYD's sales growing at over four times the industry growth rate; the company sold more than twice as many vehicles as Tesla in recent months.