It is what it is - US invents, China scales and EU regulates. And just like that, China is winning the EV era: "Chinese electric vehicle giant BYD has widened its lead over Tesla, reporting record-breaking annual revenue of 777 billion yuan ($107 billion) for 2024. This figure eclipsed Tesla’s $97.7 billion revenue from the previous year, further cementing BYD’s dominance in the electric vehicle industry. With soaring sales, cutting-edge technology, and strategic expansion, BYD has positioned itself as the world’s top EV manufacturer while Tesla faces mounting challenges, declining sales, and an increasingly distracted CEO."
The Chinese government builds platforms (roads, electricity, postal services, seaports, etc) for commerce, and companies can easily plan enterprises on top. Through those platforms, China is compounding its capabilities more than any part of the world. Oil wealth would have given Nigeria the resource to build such platforms, but here we are that in the 21st century, we do not even have electricity!
Who Leads?
Yes, America invents but that does not mean that China does not innovate. Seven out of the top 10 car models featuring the most advanced intelligent driving systems belong to Chinese brands, according to the German automotive consulting company P3 [source ]. In other words, China is not just waiting.
My challenge is not what China does, it is what Nigeria decides to do on basic things like electricity and security. A 6-hour daily electricity supply is our quantum computing and AI right now, and it is not getting better.
Electric-automaker BYD sped past two major milestones in 2024. Its sales surpassed those of rival Tesla, and revenue surged 30% from a year earlier, coming in past the $100 billion mark at $107 billion. While Tesla still leads in market valuation, high-tech features like ultra-fast charging are propelling the Chinese company to gain ground globally. In January and February of this year, sales rose 93% over 2024 figures, and BYD expects to sell up to six million vehicles in 2025.
It is what it is - US invents, China scales and EU regulates. And just like that, China is winning the EV era: "Chinese electric vehicle giant BYD has widened its lead over Tesla, reporting record-breaking annual revenue of 777 billion yuan ($107 billion) for 2024. This figure eclipsed Tesla’s $97.7 billion revenue from the previous year, further cementing BYD’s dominance in the electric vehicle industry. With soaring sales, cutting-edge technology, and strategic expansion, BYD has positioned itself as the world’s top EV manufacturer while Tesla faces mounting challenges, declining sales, and an increasingly distracted CEO."
The Chinese government builds platforms (roads, electricity, postal services, seaports, etc) for commerce, and companies can easily plan enterprises on top. Through those platforms, China is compounding its capabilities more than any part of the world. Oil wealth would have given Nigeria the resource to build such platforms, but here we are that in the 21st century, we do not even have electricity!
Who Leads?
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Yes, America invents but that does not mean that China does not innovate. Seven out of the top 10 car models featuring the most advanced intelligent driving systems belong to Chinese brands, according to the German automotive consulting company P3 [source ]. In other words, China is not just waiting.
My challenge is not what China does, it is what Nigeria decides to do on basic things like electricity and security. A 6-hour daily electricity supply is our quantum computing and AI right now, and it is not getting better.
Electric-automaker BYD sped past two major milestones in 2024. Its sales surpassed those of rival Tesla, and revenue surged 30% from a year earlier, coming in past the $100 billion mark at $107 billion. While Tesla still leads in market valuation, high-tech features like ultra-fast charging are propelling the Chinese company to gain ground globally. In January and February of this year, sales rose 93% over 2024 figures, and BYD expects to sell up to six million vehicles in 2025.
