August 28, 2025

The speed and scale of China's electric vehicle revolution has caught the world by surprise, and analysts say this trend shows no sign of slowing down.

Tesla CEO Elon Musk was among those who underestimated the potential of China's EV manufacturers.

In 2011, Musk dismissed BYD by laughing at their products during a Bloomberg interview. "Have you seen their car?" Musk said. "I don't think it's particularly attractive, the technology is not very strong. And BYD as a company has pretty severe problems in their home turf in China. I think their focus is, and rightly should be, on making sure they don't die in China."

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