Overview

• Tesla's Q2 profits dropped by 40%, with shares falling 12% following the announcement.
• BYD sold 426,039 EVs in Q2, just below Tesla's 443,956 vehicle deliveries.
• BYD is expanding into new markets with affordable EV models, including the Seagull and Sea Lion 07.
• Tesla plans to launch more affordable models sooner to counteract revenue declines.
• Analysts predict BYD could surpass Tesla in EV sales by the end of 2024.