You may not like Elon Musk but the fact is that under him Tesla became a brand synonymous with electric vehicles (EV). Tesla's success has given impetus to other car manufacturers to also offer their own EVs as there has been proven demand. Currently Tesla is the world's largest EV manufacturer but according to Bloomberg this era is coming to an end.
BYD is expected to overtake Tesla in terms of EV sales in just a few months. A sales figure to be proud of because BYD has yet to offer their vehicles to the lucrative US market. BYD's strategy is to offer an EV with good performance but at a much more affordable price than competitors.
At this point, BYD has dominated the EV market in China and now it is their turn to dominate the world market as well. The strategy of marketing BYD vehicles in the Asian and African regions that Tesla has not yet entered is seen to bear fruit. Although labeled as "affordable", the fact is that EVs in Malaysia are still beyond the reach of marhaen. If the EV era really wants to start, vehicles under RM30K need to be marketed immediately.
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AUTOMOTIVE