Publications
Publications
- August 2023
- HBS Case Collection
BYD, China, and Global Electric Vehicle Rivalry
By: Cynthia A. Montgomery and Max Hancock
Abstract
In 2023, BYD, a Chinese electric vehicle (EV) maker, surpassed Tesla to become the world's best-selling EV brand. BYD began selling mobile phone batteries in 1995, acquired a license to sell vehicles in 2002, and spent two decades building its EV brand, growing its staff, and vertically integrating its supply chain. But did the company have what it took to hang on to its spot at the top of the global EV market? Tesla was still a force to be reckoned with, and BYD faced competition from legacy gas-powered carmakers in the U.S., Germany, Japan, and Korea, which were racing to electrify their product offerings. Some of these brands had more than a hundred years' experience bringing vehicles to market. Which carmaker's strategy would win the global competition for EV market control?
Keywords
Competition; Competitive Strategy; Expansion; Segmentation; Vertical Integration; Auto Industry; China; Europe; United States; Japan; South Korea
Citation
Montgomery, Cynthia A., and Max Hancock. "BYD, China, and Global Electric Vehicle Rivalry." Harvard Business School Case 724-358, August 2023.