China’s premier automaker, BYD, financially backed by the Chinese Communist Party (CCP), is now the world’s biggest seller of Electric Vehicles (EVs) — beating out United States-based Tesla for the crown.
While President Joe Biden has made EVs a fixture of his “Bidenonomics” agenda, China has been declared the “king” of the global EV market, according to Bloomberg News:
For the first time ever, the Chinese carmaker overtook Tesla as the world’s biggest seller of electric vehicles in the final three months of last year. It’s a major milestone for a company that’s become emblematic of China’s dominance in the market, mostly at home but increasingly abroad. [Emphasis added]
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Selling cheap electric cars has been the carmaker’s preferred strategy, and it’s beating its American competitor on that front handily. BYD owns its own battery supply chain too, helping margins even as the cost of the materials needed to make its cars has increased. [Emphasis added]
As Breitbart News reported last year, BYD and other Chinese automakers are hoping to flood the U.S. market with cheap, subsidized EVs to sell to Americans who are turned off by Tesla EVs and their high prices.
Alliance for American Manufacturing (AAM) President Scott Paul has previously called BYD “an arm of China’s military and government” because of the automaker’s direct ties to the CCP and the billions in subsidies it enjoys.
Biden’s top-down EV agenda has been a bit of a flop.
For instance, despite billions in investments and tax breaks, American car dealers report that EVs are “piling up” on their lots, while traditional gas-powered cars sell much faster. Likewise, the $7.5 billion allocated to build electric chargers across the U.S. has yet to produce a single charger.
John Binder is a reporter for Breitbart News. Email him at
