BYD sells more EVs than Tesla, but makes 10 times less profit

Tesla took in $35.7 billion in the first half of 2022 compared to BYD’s $21.8 billion. The difference in terms of profit is even more notable. Tesla brought in $5.6 billion in profits, while BYD brought in $0.5 billion. Tesla sells higher-priced “premium” products that offer a larger gross margin, while BYD often competes in more cutthroat affordable car categories. Both companies have amazing strategies but are Tesla smarter?

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