4.7 • 219 Ratings
🗓️ 28 October 2024
⏱️ 17 minutes
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Started as a battery company in the 1990s in Shenzhen, BYD is now one of the best-selling EV brands in the world. Once mocked by Elon Musk, the company’s startling growth made it a global player and has sparked tariffs in the US and EU. In this episode of the Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Gabrielle Copolla and Danny Lee about the company’s aggressive expansion and what it means for the global auto market.
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0:00.0 | Hi, it's Akshad. As a bonus this week, we are bringing you an episode from our sister podcast, The Big Take. It's about the Chinese electric car company, BYD, and why it's outperforming Tesla. This episode was originally published last week. |
0:18.4 | Bloomberg Audio Studios. Podcasts, Radio, News. |
0:23.6 | In the middle of the Mediterranean Sea, between North Africa and Italy, lies Malta. |
0:31.6 | A sunny, tiny island nation that's known for its beaches and ancient temples. |
0:40.2 | But it might not seem worth the attention of a disruptive, global car brand. So when Gabrielle Coppola, a Bloomberg |
0:46.4 | auto reporter based in Detroit, heard that B.Y.D, the Chinese EV company, was selling their |
0:52.8 | all-electric model, the Otto 3 in Malta. |
0:56.1 | She was intrigued. |
0:57.7 | They sold new cars on the island of Malta last year was around 7,200. |
1:02.6 | How many cars were sold in the U.S.? |
1:05.0 | Over 15 million. |
1:06.8 | So that is like a piece of a fingernail of the size of the U.S. car market. |
1:11.5 | I mean, it is tiny. |
1:13.0 | But Malta isn't too tiny for BYD. |
1:16.9 | Gabrielle says Malta and small markets like it are part of a key strategy in BYD's global expansion. |
1:24.5 | BYD is facing heavy tariffs in some of the biggest auto markets, the U.S. and the |
1:29.5 | EU. So it's looking to boost sales in emerging countries that don't have their own |
1:34.7 | auto industries. One automotive analyst compared its strategy to chicken ribs, because chicken |
1:41.3 | ribs don't have much meat on them, but you also don't want to throw them away and let them go to waste. |
1:46.0 | It's like a chicken rib market. You know, you add up all those chicken ribs, that's a lot of meat. |
1:52.0 | And in all these countries and all those little bits of meat, all those chicken ribs add up to like 10 million cars. |
1:58.0 | And you've got a real business outside of China. |
... |
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