BYD's quarterly revenues reached over 200bn yuan, surpassing Tesla for the first time. This growth is driven by strong EV sales and government subsidies.
Despite beating Tesla in revenue, BYD sold fewer vehicles—highlighting the ongoing competition. EV sales in China are boosted by significant government incentives.
The concern for the EU is sparked by rising tariffs on Chinese EV imports, indicating fears of an uneven playing field due to China's substantial subsidies.
China's EV industry anticipates international expansion; however, backlash from Western markets could hinder growth, as evidenced by new tariffs imposed on Chinese car manufacturers.
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