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illuminem summarises for you the essential news of the day. Read the full piece on CNN or enjoy below:
🗞️ Driving the news: Chinese electric vehicle (EV) giant BYD has overtaken Tesla in global sales and is outpacing its rival in battery innovation, affordability, and advanced driving tech
• In 2024, BYD (See sustainability performance) delivered 4.27 million vehicles (including hybrids) and introduced a game-changing fast-charging battery and its “God’s Eye” driver-assistance system
• Despite its global growth, BYD’s cars remain unavailable in the U.S. due to 100% import tariffs
🔭 The context: Founded in 1995, BYD rose from a battery manufacturer to China’s top automaker under founder Wang Chuanfu
• The company controls 32% of China’s new energy vehicle market, far ahead of Tesla’s 6.1%
• Its ability to keep costs low is driven by vertical integration, battery expertise, and aggressive pricing
🌍 Why it matters for the planet: BYD’s dominance highlights how rapid innovation and price accessibility can accelerate EV adoption globally
• As the world’s largest EV producer, BYD is shaping the clean transport transition, particularly in developing regions
• However, geopolitical barriers may limit its impact in key Western markets
⏭️ What's next: BYD plans to increase overall deliveries by 30% in 2025 and double overseas shipments to 800,000 vehicles
• It faces scrutiny over labour practices and technology concerns in Brazil and Mexico
• Analysts expect it to continue driving down costs and pushing EV innovation worldwide
💬 One quote: “They’re not planning to take their foot off the gas on research and development… it’s going to be a consistent onslaught probably through the end of this decade.” — Tu Le, Sino Auto Insights
📈 One stat: BYD reported $107 billion in revenue in 2024 on 4.27 million vehicle deliveries, compared to Tesla’s $97.7 billion on 1.79 million EVs
See here detailed sustainability performance of companies like BYD and Tesla
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