Tesla Inc. currently holds a dominant 50% market share in the U.S. electric vehicle market, but faces significant challenges in expanding its growth in China.
With China reaching 52.3% penetration of new energy vehicles in November, BYD’s sales far outpaced Tesla's, securing their position as the leading EV manufacturer in the region.
Despite Tesla's global market presence, tariffs on Chinese EVs significantly affect competition, allowing BYD to maintain its lead in China, while Tesla dominates in the U.S. and Europe.
Tesla's recent surge of 78,856 vehicle sales in China marks November as its best month in 2024, yet it still trails behind BYD, which sold over 500,000 units.
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