BYD vs Tesla: The New EV Empire with Lei Xing

Leong Chung Wei Bernard -

Fresh out of the studio, Lei Xing, founder of AutoXing & co-host of China EVs & More, shared his insights into the Chinese electric vehicle (EV) market and its implications for the global EV market. Lei discussed his career journey and the inspiration behind covering the China EVs market through his podcast. He broke down the competitive dynamics between Tesla and BYD based on their current strategies for global market expansion and technological challenges. He shared his perspectives on whether Chinese EV makers can rinse and repeat the solar panel strategy against the rest of the automotive companies in the world. Last but not least, he shared the groundbreaking innovations at CES 2024 and emphasized the challenges and opportunities ahead for Chinese manufacturers and their vision for long-term success in the EV industry globally.

“One thing I can add is the awakening, the shaking up, the shaping up of the rest of the global auto industry from the Chinese is in full swing. The Chinese are coming. And if the Western automakers are prepared, they're going to have a much tougher moment than when they confronted the Japanese or the Koreans. The Japanese [and] Koreans, they're very successful. Let's say in the U.S., but this is a whole different issue - the geopolitical aspect. But you know, they're coming.” - Lei Xing

Introduction

  • Lei Xing (邢磊), Founder & Co-host of China EVs & More (Apple Podcasts, Spotify) and Founder of AutoXing and former Chief Editor of China Auto Review (LinkedIn, @leixing77). 
  • How did you start your career?
  • What inspired you to get into covering the China EVs market?
  • You are the co-host of China EVs and More, what do you cover on your podcast? 
  • From your career journey, what are the lessons you learned that you can share with my audience?

BYD vs Tesla: The New EV Empire with Lei Xing

  • Can you provide a comprehensive overview of the global EV market and the total market opportunity? Specifically for China, how much of the EV market does the Chinese car makers have? 
  • Can you share the background of key EV manufacturers in China, BYD, Nio, Xiaomi, XPeng and any others I have missed?
  • How do you assess the competitive dynamics between Chinese EV makers like BYD and international giants like Tesla? In what areas do you think Chinese EV manufacturers hold an edge over Tesla, and vice versa?
  • What is the one thing you know about the Chinese EV manufacturers that very few do? 
  • What strategies are Chinese EV manufacturers employing to enhance their global market share?
  • How are Chinese companies addressing challenges in technology, production, and market penetration?
  • There has been a lot of chatter in the market that the Chinese EV car makers are rinsing and repeating the strategy of what they did in solar panels to beat out their competitors. Is that strategy possible in the automotive industry given that there are so many stakeholders in the market?
  • I understand that BYD has operations in the US, how are they performing in the US market?
  • Comparing Tesla and BYD, Elon Musk has commented about the competitiveness of Chinese car makers but also said that Tesla is also a robotics and AI company. Does BYD have its own car operating system, its own AI or self-driving car division or working with another Chinese tech giant to enhance its tech competitiveness?
  • How about NIO, Xiaomi and XPeng, whose founders have technology backgrounds? 
  • How is Tesla adapting its strategies in response to the growing presence of Chinese EV makers in both local and global markets?
  • Let’s switch gears to look at innovations in EVs. From your perspective, what were the most groundbreaking EV innovations presented at CES 2024?
  • How do these innovations align with the current needs and trends in the global EV market?
  • Why are the Japanese keeping at the hydrogen fuel innovation in cars? Is it that they are hedging the electric car trend? 
  • How are regulatory environments across different regions impacting the strategies of Chinese EV makers and their competition with global brands like Tesla?
  • What is your outlook for the EV market over the next 5-10 years, especially in the context of Chinese manufacturers versus global players?
  • What key challenges and opportunities do you foresee in the EV industry's evolution?
  • What does success mean for the Chinese EV makers in the long run?

Closing

  • Any recommendations that have recently inspired you?
  • Lei Xing's inspiration: his father's energy and drive and pursuing his own projects at the age of 80 and his daughter's aspiration to study in Stanford at the age of 12.
  • Where can my audience find you?

Podcast Information: Bernard Leong (@bernardleong, Linkedin) hosts and produces the show. Proper credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited in both video and audio format by G. Thomas Craig (@gthomascraig, LinkedIn).