HT Auto Explainer: What makes BYD more successful than other EV makers globally?
- BYD’s global EV dominance stems from its hybrid advantage, Blade Battery innovation, and a diverse yet scalable strategy in EV manufacturing.
Check Offers When BYD India quietly crossed the 10,000-unit delivery mark earlier this year, it didn’t just signal a milestone for the brand; it marked a turning point for India’s electric vehicle (EV) landscape. In a country where EV penetration in the passenger vehicle segment still hovers below 8 per cent (as of 2024), BYD’s rise has been steady, deliberate, and strategic. Yet, India is just one chapter of how this Shenzhen-based company, which began by making mobile phone batteries, became the world’s biggest EV manufacturer, outpacing even Tesla.
Building a foundation in India
Contrary to popular belief, BYD’s presence in India dates back to 2007. Long before it began selling passenger EVs, the company had already established itself in material handling, public transport, and B2B electric mobility. This groundwork allowed BYD to study local conditions, test its technology, and earn institutional trust before entering the consumer space in 2021 with the e6 electric MPV. This was followed by:
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BYD’s approach helped it position its EVs correctly for Indian consumers. But challenges remain, including restrictive FDI policies, anti-China sentiment, and the need for a local manufacturing partner. Still, BYD’s methodical expansion reflects the same formula that has made it a dominant force globally: innovation, scale, and market adaptability.
From battery maker to global EV giant
Founded in 1995, BYD or ‘Build Your Dreams’ started as a nickel-cadmium battery manufacturer for mobile phones. Three decades later, it has been selling more electric vehicles than Tesla, its direct competitor.
BYD’s success is largely due to technological independence. In 2020, it introduced the ‘Blade Battery,’ a lithium-iron-phosphate (LFP) innovation that was capable of enduring over 3,000 charge cycles and offering a range of up to 600 km. The ‘Blade Battery’ remains one of the safest in the world, passing the notoriously difficult nail penetration test without catching fire or emitting smoke.
| Battery Type | Recharge Cycles | Surface Temp (After Penetration) | Range |
|---|---|---|---|
| BYD Blade Battery | 3000+ | 30–60°C | 600 km |
| Tesla Lithium-ion | 1500–2000 | 200–500°C | 550–600 km |
This in-house technology gives BYD a unique edge over rivals like Tesla, which still sources its batteries from multiple suppliers such as CATL, Panasonic, and LG Energy Solutions.
BYD’s multi-layered global strategy
By 2023, BYD exported more than 240,000 vehicles to over 70 countries, leading EV sales in Thailand, Australia, Singapore, Israel, and Brazil. Not limiting itself to electric cars, BYD has diversified its portfolio with hybrids, buses, and energy solutions to serve both developing and developed markets.
This broad portfolio is also reflected in its financials. In 2024, BYD reported $107 billion in revenue, surpassing Tesla’s $97.7 billion. Its net income grew 34 per cent to 40.3 billion yuan, fuelled by the popularity of both its hybrid and electric offerings.
The power of volume and technology
BYD’s production strategy emphasises scalability and innovation. While Tesla manufactures roughly 1.9 million all-electric cars annually, BYD’s total 2024 deliveries, combining electric and hybrid vehicles, reached 4.27 million units. The company expects to sell 5–6 million vehicles in 2025, with sales in early 2025 already up 93 per cent year-on-year.
Its newly unveiled vehicle architecture, a next-generation platform for future models, allows up to 400 km of range from a five-minute charge. Moreover, BYD is incorporating advanced driver assistance systems (ADAS) into base trim levels of its vehicles.
Hybrid advantage
Many global consumers remain hesitant to switch fully to electric vehicles, especially in regions where charging infrastructure is limited. BYD’s hybrid lineup bridges that gap, combining electric and fuel power to deliver practicality without range anxiety.
In 2024, BYD sold 17.6 lakh electric cars, nearly matching Tesla’s 17.9 lakh, but when hybrids are added, BYD’s total surged to 42.7 lakh units, nearly matching Ford’s global tally. This mix of affordability, flexibility, and variety allows BYD to tap into broader market segments.
Why BYD succeeds where others struggle?
European carmakers like Mercedes-Benz and Audi have slowed their EV shift, extending internal combustion engine (ICE) timelines beyond 2030 amid fluctuating demand. BYD, meanwhile, continues to double down on electrification. Its vertically integrated model, spanning battery design to software development, helps maintain quality while reducing costs. This strategy ensures agility where legacy automakers still face inertia.
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