Tesla is the one brand that comes to mind when speaking of electric vehicles (EV), however now that more and more brands are embracing EVs, Elon Musk's company has an increased array of competition in its way. BYD (Build Your Dreams), a Chinese company, is rising as a company that is actively backing US President Donald Trump's 'Made in America' initiative. For starters, the brand sold over 100,000 units, whereas Tesla clocked in about 76,000 in sales in the year 2016. BYD, backed by American business magnate Warren Buffett, is now looking forward to expanding its US operations with its California production facility which will employ about 700 people and will be able to produce 1500 EVs manually every year, President of BYD Motors told CNBC. While BYD is mostly into buses, it is now planning to expand its product lineup through electric refuse trucks and forklifts.
BYD president confirmed that the company's customer base is not just confined to California, but Denver too is one of its biggest customers. Latin American is also one of the emerging markets for EVS, she added.
BYD initially faced some resistance from the US market, considering that a Chinese company wouldn't hold for very long, however, it gained traction as it emerged as the world's largest battery-makers while offering a 12-warranty.
Another Tesla competition that made headlines recently is Lucid, which tested one of its prototypes on an oval track. The result was a top speed greater than Tesla Model S by a large margin. Lucid Air attained a top speed of 377 kph during a high-speed test on the banked oval at Ohio’s Transportation Research Center.
However, a bit of a hurdle or rather a massive problem that Lucid faces is that the company so far does not have a manufacturing plant yet. Last year in November, Lucid announced that deliveries would begin in 2018 but the date has been pushed back to 2019.