BYD's vertical integration allows for reduced costs and efficient production timelines by controlling key components of their electric vehicles, from batteries to hardware.
In a competitive market, BYD strategically increased its model offerings across all segments, ensuring it had options for all consumers, which propelled sales growth.
The Chinese government's strong support has provided an advantageous environment for BYD, facilitating price competitiveness that attracts a broader consumer base.
BYD's sales figures skyrocketed from 427,300 units in 2020 to 2.89 million last year, showcasing a remarkable growth trajectory in global BEV markets.
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