The End of an Era? Tesla's EV Reign Challenged by BYD and Policy Shifts
The global electric vehicle market faced pressure in the past quarter. Chinese giant BYD beat leader Tesla by a significant margin of 60%. This reflects its competitive position and growing dominance in the electric car race and signals profound changes in the industry. Tesla's deliveries in Q2 totalled 384,122 electric vehicles, a significant 13% decrease compared to the same period last year. Notably, this marks Musk's company's second straight quarter of declining delivery volumes.