Power struggle in electric cars
BYD sent waves through the motoring industry on New Year’s Day when updated fourth-quarter sales figures showed the Chinese electric vehicle manufacturer had edged ahead of Elon Musk’s Tesla for the first time.
The company shifted 526,000 cars in the final quarter, compared with Tesla’s 484,507, in what has come to signify the starting gun in the race to consolidate the lion’s share of the market. BYD and Tesla each boast 17 per cent of global EV sales, but their position is far from secure.
The international market has splintered between new entrants and established brands crossing over into EVs. In Ireland, recent arrivals MG and Polestar are already chipping away at the industry leaders Volkswagen and Hyundai, while a flock of new manufacturers —
