True, Tesla’s game is elsewhere. But the market isn’t “autonomy-focused” yet. It will be, yes. But at that moment, the geographical presence of the product matters.
Google is gaining in AI because of its search dominance.
If Tesla loses its market share, and bets on the future, then let’s hope the future arrives asap.
While the article fixates on BYD's volume "dethroning" (2.26M BEVs vs. Tesla's 1.64M in 2025), it glosses over Tesla's superior profitability and ecosystem strengths.
Despite lower sales, Tesla's TTM net income hit ~$5.1B as of Q3 2025 (full-year projections ~$4-5B amid price wars), edging out BYD's ~$4-5B estimate (Q1-Q3 at ~$3.3B).
Tesla's profit per vehicle remains double ~$6,100 vs. ~$2,900, driven by premium pricing, high-margin FSD software, and booming energy storage (46.7 GWh deployed in 2025, Q3 revenue up 44% to $3.4B), areas BYD can't match amid hybrid reliance (total NEV ~4.6M) and China's margin-crushing price wars (Q3 profits down 33%).
This ignores Tesla's real moats: AI/autonomy (Cybercab imminent), global Superchargers, and robotics for exponential growth. BYD's export push faces tariffs and brand challenges. Volume is fleeting, innovation endures.
True, Tesla’s game is elsewhere. But the market isn’t “autonomy-focused” yet. It will be, yes. But at that moment, the geographical presence of the product matters.
Google is gaining in AI because of its search dominance.
If Tesla loses its market share, and bets on the future, then let’s hope the future arrives asap.
Great article though 👏 always love to read high level work on the space. Subscribed 👍
While the article fixates on BYD's volume "dethroning" (2.26M BEVs vs. Tesla's 1.64M in 2025), it glosses over Tesla's superior profitability and ecosystem strengths.
Despite lower sales, Tesla's TTM net income hit ~$5.1B as of Q3 2025 (full-year projections ~$4-5B amid price wars), edging out BYD's ~$4-5B estimate (Q1-Q3 at ~$3.3B).
Tesla's profit per vehicle remains double ~$6,100 vs. ~$2,900, driven by premium pricing, high-margin FSD software, and booming energy storage (46.7 GWh deployed in 2025, Q3 revenue up 44% to $3.4B), areas BYD can't match amid hybrid reliance (total NEV ~4.6M) and China's margin-crushing price wars (Q3 profits down 33%).
This ignores Tesla's real moats: AI/autonomy (Cybercab imminent), global Superchargers, and robotics for exponential growth. BYD's export push faces tariffs and brand challenges. Volume is fleeting, innovation endures.