BYD Vs Tesla: Who will win the Global EV Race?

Case Code: BSTR681
Case Length: 15 Pages
Period: 2019-Q1 2024
Pub Date: 2024
Teaching Note: Available

Price: Rs.400
Organization : Tesla Inc.
Industry : Automotive
Countries : -
Themes: Competitor Analysis, Competitive Strategy, Brand Strategy

Abstract Case Intro 1 Case Intro 2 Excerpts

Excerpts

Tesla: Pioneering The EV Revolution

Tesla was founded in 2003 by two Silicon Valley engineers Martin Eberhard (Eberhard) and Marc Tarpenning with the mission of accelerating the development of the sustainable transport industry by bringing high performance green cars to the market. They named the company after famous Serbian American engineer Nikola Tesla. In February 2004, when Tesla raised US$7.5 million in a Series A round of funding, Musk , an entrepreneur, contributed US$6.3 million and became the controlling investor. Post the funding, Musk joined Tesla’s board as its chairman and took on an operational role as well. In 2008, Tesla released its first EV, the Roadster, a sports car with a US$100,000 price tag. The Roadster boasted a range of 245 miles and could accelerate from 0 to 60 mph in just 3.7 seconds. In late 2008, as a financial crisis gripped the global economy, Tesla struggled to stay in business and was teetering on the brink of bankruptcy..

Challenges Ahead

Some of the common challenges that EV makers faced globally were growing competition, having to build charging infrastructure, managing regulatory and compliance issues, retaining market share, and turning profitable. A potential slowdown in the demand for EVs amid significant headwinds facing the global economy was also a cause for concern. According to Goldman Sachs forecasts, the EV sales volume might decline 2% y-o-y in 2024, resulting in oversupply across the EV supply chain..

Exhibits

Exhibit I: Global NEV Sales Ranking of World’s Top 10 Auto Brands (2021)
Exhibit II: BYD’s EV Brand Portfolio
Exhibit III: Retail Sales of NEVs in China in 2023
Exhibit IV: BYD’s Statement of Operations (2021 to Q1 2024)
Exhibit V: Tesla’s EV Portfolio
Exhibit VI: Tesla’s Statement of Operations (2021 to Q1 2024)
Exhibit VII: Top 10 Largest Automakers by Market Capitalization (as of March 2024)
Exhibit VIII: BYD and Tesla’s Net Profit (2019-2023)

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