BYD means ‘Build Your Dream’ in English and the company is strengthening its hold in the world apart from China. The company is headquartered in Shenzhen City, Guangdong Province, in the south of China. On the other hand, Tesla’s production decreased as production at the company’s Shanghai factory in China was curtailed due to the re-emergence of the coronavirus pandemic. Apart from this, Tesla’s dispute is also going on with the regulators due to which the company has to recall its Tesla Model Y and Model 3.
The reason for the recall is a defect in the emergency call system found in about 60,000 Tesla cars. Due to this, the performance of the company has declined by 18%. At the same time, BYD has also got huge success in the battery segment. The company has overtaken LG in making EV batteries and has now become the world’s second largest EV battery maker.
From April 2022 till now, the company is maintaining its performance at the same level. It has been leading LG since April. The first place belongs to China’s CATL company, which is the largest manufacturer of EV batteries in the world. The demand for EV is also increasing day by day. For this reason, the conflict in the performance of the companies has also increased. Contemporary Amperex Technology Co. Ltd (CATL) recently introduced a battery with a range of 1,000km.