Why Tesla and BYD could dominate electric car sales for a long time yet: The rise of China

AutoExec Summary
Tesla and BYD are the top-selling electric cars in Australia and the world. UBS Research forecasts that Chinese EV manufacturers will continue to steal market share from traditional car brands due to their head start on electric tech and modern lean manufacturing techniques. BYD has a 16% profit margin on the Tesla Model 3-rivalling Seal and is estimated to be 15% cheaper to manufacture than a made-in-China Tesla Model 3. UBS also predicts that Chinese OEMs will double their global market share from 17% to 33% by 2030, with Tesla expanding its global market share as EV penetration increases. UBS also believes that Tesla could be one of the world’s leading car makers by 2030.

Brands mentioned: Tesla, BYD, Volkswagen, Toyota