BYD senior exec taunts Musk that Tesla will lose market share and face challenges in its AI self-driving system
A senior executive at BYD Co. has stoked the Chinese automakers rivalry with Tesla Inc., warning Elon Musk that hell face challenges in intelligent driving systems.
BYD is very strong now, Zhao Changjiang, the head of sales for the firms Denza joint venture with Mercedes-Benz AG,wroteon Chinese social media platform Weibo on Wednesday, saying he was responding to a comment made online earlier this month.
While Zhao didnt name Tesla or Musk specifically, he appeared to make reference to a post made by Musk on his X platform in early January. In his response to a discussion comparing Tesla and BYD, Musk said his company was an artificial intelligence firm, not an automaker.
Tesla is an AI/robotics company that appears to many to be a car company
Zhao also warned Tesla may lose market share.
Youll face serious challenges in advanced driver-assistance system and car models in 2024, such as Denzas N7 changing the landscape of the auto market and triumph over the Y model! Zhao said, referring to Teslas sports utility vehicle crossover, the Model Y.
BYDs rapid ascent has seen it threaten Teslas long-held title as the worlds biggest EV maker. The Shenzhen-based company outsold Musks firm for the first time ever in the fourth quarter, though hasnt yet managed to repeat the feat across a full year.
Tesla, which is due to report results after the market close on Wednesday, is facing growing pressure from stalling global demand for EVs and needing to maintain margins. It slashed prices in China as competition in the worlds biggest auto market continues to intensify, while doubts from investors saw more than$94 billionwiped from its market valuation in just the first two weeks of this year.
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