Tesla Vs. BYD 2023: EV Rivals Are Frenemies Now; TSLA Stock Halts Slide As BYD Nears Buy Point

Tesla (TSLA) and BYD (BYDDF) are the world’s largest electric-vehicle makers, becoming more direct competitors in China and much of the world. But these rivals are also allies.

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A lot of attention is focused on EV startups such as Nio (NIO), Li Auto (LI), Xpeng (XPEV), Rivian (RIVN) and Lucid (LCID). Efforts by traditional auto giants such as General Motors (GM), Ford Motor (F) and Volkswagen (VWAGY) also get coverage. However, Tesla and BYD stand apart.

In 2022, China EV and battery giant BYD’s vehicle sales raced ahead of Tesla’s. For all-battery electric vehicles (BEVs), Tesla remains No. 1.

In 2023, Tesla has slashed prices multiple times, as demand struggled to keep up with booming production capacity. Chinese EV makers have made their own cuts, including BYD.

Tesla earnings fell solidly in the first quarter, with gross margins plunging. BYD reported booming Q1 earnings…