Why BYD Could Soon Dominate the Electric Vehicle Industry

September 7, 2022 11:06:48

Tesla’s EV dominance may fall soon to a Chinese firm called BYD (Build Your Dreams). Founded back in 1995 by entrepreneur, chemist, and billionaire Wang Chuanfu, BYD first started its life as a battery maker before transitioning into full-scale EV manufacturing. The Shenzen-based company played a major role in taking a large share of the rechargeable battery market from Japan, becoming one of the biggest suppliers of mobile phone batteries in the world.

Even as BYD seeks to make a name in the electric vehicle segment, it still draws most of its revenue from mobile phone…

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