business / news / / CBS News
BYD overtook Tesla last year as the world's top seller of fully-electric vehicles.
BYD overtook Tesla as the world's top seller of fully-electric vehicles last year.
KEY POINTS
- BYD can manufacture cars for 25 percent less than Western competitors due to its battery supply chain.
- President Biden imposed a 100 percent tariff on Chinese EVs in 2024, doubling their U.S. price.
- BYD markets advanced features like five-minute charging and 360-degree turning to attract global buyers.
- Experts warn U.S. tariffs may hinder domestic innovation and long-term competitiveness in electric vehicles.
COMPANIES
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