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Despite Rolling In Cash, BYD Has No Plans To Enter The U.S. Market And Take On Tesla | Carscoops

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Despite Rolling In Cash, BYD Has No Plans To Enter The U.S. Market And Take On Tesla | Carscoops carscoops

. In comparison, Tesla, which only sells EVs and not plug-in hybrids, controls only 8% of the market.sales expanded by more than 200 percent in 2022, but it doesn’t expect to be able to continue at that pace. As China ends its EV subsidy program, the automaker is reducing shifts at two of its major factories.

Still, in the first quarter of 2023, it expects sales to increase by 80 percent.Wang’s lack of interest in challenging the American market does not mean BYD is solely focused on its domestic market. The automaker has begun expanding into Europe, targeting countries such as the U.K., Denmark, and EV-centric Norway. Wang anticipates that the growing prominence of electric vehicles will cause a reshuffling of the global automotive industry.

 

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