Elon Musk once scoffed at the notion that BYD could compete with his company. Now, the automaker run by billionaire Wang Chuanfu is poised to be the new No. 1 in electric vehicles.
China’s BYD Co. bills itself as the biggest car brand you’ve never heard of. It might need a different tagline soon.
The automaker is poised to surpass Tesla Inc. as the new worldwide leader in fully electric vehicle sales. When it does — likely in the current quarter — it will be both a symbolic turning point for the EV market and further confirmation of China’s growing clout in the global automotive industry.