And
BYD has already topped Tesla on quarterly revenue for the first time, as Electrek reported. Tesla, for its part, fell short on expectations with $25.47 billion in Q3 revenue last week. Tesla’s gross margins climbed to 19.8%, compared to BYD’s gross margins reached 21.9% in the third quarter, up from 18.7% in Q2
“BYD has no peer in the world right now,” Big Three advisor Tu Le, of Sino Auto Insights, told Bloomberg. “Legacy automakers just seem to be collateral damage as BYD goes like a freight train toward becoming the largest automaker in the world.”