Recently, Uber (Uber) and BYD Auto reached an important agreement to put 100,000 BYD electric vehicles into their fleets around the world for ride-hailing. This move will make Europe and Latin America the first to enjoy BYD's electric vehicle services, followed by the Middle East, Canada, Australia and New Zealand. However, Tesla CEO Elon Musk posted on social media that BYD needs to change direction quickly or face a difficult situation.
In recent years, BYD has continued to cultivate in the new energy market, launching a number of series of hybrid and pure electric power models, becoming a strong competitor of Tesla and other joint ventures and independent brands. With the increasing maturity of the domestic new energy market, BYD is also facing multiple challenges such as technological innovation, brand positioning and product internationalization.
Tesla CEO Elon Musk's warning to BYD also hints that in a market environment where electrified products are constantly being iteratively updated, the speed of technological innovation must keep pace with the pace of market development, otherwise it will face the risk of marginalization or obsolescence. If the brand stagnates, it will also lose market share. Therefore, BYD needs to continue to promote technological innovation and product upgrades to cope with fierce market competition.