{"id":14258,"date":"2022-01-31T09:00:19","date_gmt":"2022-01-31T14:00:19","guid":{"rendered":"https:\/\/autosector.com\/?p=14258"},"modified":"2022-01-31T09:00:19","modified_gmt":"2022-01-31T14:00:19","slug":"elon-musk-tesla-buffet-byd","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=14258","title":{"rendered":"Elon Musk’s Tesla Vs Warren Buffet’s BYD"},"content":{"rendered":"

This article comes to us courtesy of\u00a0EVANNEX<\/a>, which makes and sells aftermarket Tesla accessories. The opinions expressed therein are not necessarily our own at InsideEVs, nor have we been paid by\u00a0EVANNEX<\/a>\u00a0to publish these articles. We find the company’s perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!<\/em><\/p>\n

Posted on<\/span>\u00a0January 31, 2022,\u00a0by<\/span>\u00a0Matt Pressman<\/p>\n

Back in 2004, Elon Musk became the largest shareholder and chairman of Tesla<\/a>. Later in 2008, Warren Buffett\u00a0invested<\/a>\u00a0$232 million for a nearly 10% stake in BYD<\/a>, a China-based company that makes lithium-ion batteries and electric cars. Truth be told, Warren Buffett and Elon Musk<\/a>\u00a0have been competing in the EV space for\u00a0quite some time now.\u00a0<\/p>\n

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Above: Both Warren Buffett and Elon Musk have made the cover of Fortune magazine for their electric vehicle pursuits (Source:\u00a0Fortune<\/a>)<\/em><\/div>\n

So how\u00a0did their respective bets in EV space turn out? Not bad. According to\u00a0Investor’s Business Daily<\/a>, “Tesla and BYD are both fast-growing EV giants… [both] are setting the pace. Both have huge expansion plans.” Tesla stock and BYD stock were winners in 2021, but which is a better bet now?<\/p>\n

“Tesla is the world’s largest electric vehicle maker,\u00a0delivering 308,600 electric vehicles\u00a0in the fourth quarter, up from 241,300 in Q3, 201,250 in Q2 and 184,800 in Q1.\u00a0But BYD is catching up. BYD sold 93,945 new energy vehicles in December, up 218% vs. a year earlier,” reports Ed Carson at IBD.<\/p>\n

Furthermore, “Both Tesla and BYD have managed to grow rapidly despite chip shortages that have crippled almost every other automaker in 2021… [and] both will continue expanding rapidly. Tesla will soon open plants near Austin, Texas and Berlin, Germany, and is looking to expand its Shanghai facility yet again.”<\/p>\n

Meanwhile, “BYD says it’ll open three new factories, boosting capacity by another 500,000 vehicles by Q2 2022. All that suggests that BYD’s electric and hybrid production could hit 1.5 million or more.”<\/p>\n

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