BYD says they are not the "Tesla of China," here's why

As BYD sets its sights on Europe with ambitious targets, comparisons to Tesla have naturally emerged. However, in an interview with Automotive News Europe, BYD Europe CEO Michael Shu dismissed the notion, bringing up the fundamental differences between the two companies.

Shu's remarks came in response to a question regarding BYD being dubbed the "Tesla of China." He stated, "Not at all. I think this comes from people who do not understand us and do not understand Tesla."

Shu highlighted the contrasts between the two companies, pointing out that while BYD has a diverse portfolio of brands and technologies, including plug-in hybrids, Tesla is solely focused on electric cars under a single brand.

Currently, there are three sub-brands from BYD catering to different segments of the market:

• Denza - A joint venture between BYD and Mercedes-Benz, targeting the "business luxury" segment
• Formula Bao (Fangchengbao) - Its primary focus lies in manufacturing SUVs, encompassing both off-road and track-oriented segments within its product lineup.
• Yangwang - BYD's flagship luxury brand, akin to what Lexus is to Toyota

However, Shu said that despite having competing products such as the BYD Seal and Tesla's Model 3, the two companies operate in distinct spheres. "We have products that compete... but we are very different companies," Shu stated.

The interview with Shu also shed light on BYD's vision for the European market, where the company aims for a 5 percent share of the electric vehicle (EV) market.

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