BYD

BYD is based in Shenzhen and is unusual among automakers because it makes its own battery cells, much of its own semiconductors, and the vehicles. That vertical stack is the cost structure Tesla and most legacy automakers do not fully replicate.

In China the competitors are Tesla, Geely's brands, Volkswagen, and a long list of domestic EV makers. Outside China, BYD sells cars in Europe, Latin America, and Southeast Asia through importers and its own distribution, and it sells electric buses into city tenders.

Blade batteries are also an input other manufacturers can buy. When BYD's cell output is tight, the question for those buyers is whether BYD's own vehicles are supplied first, which is the vertical-priority issue in an integrated battery and car company.

In-house Blade cells are both a cost advantage and a supply BYD can steer to its own cars.

Export volume depends on ships, local homologation, and the import regime of each region.

City bus tenders are won vehicle by vehicle against other electric-bus builders.

A city that buys a BYD bus fleet depends on BYD for parts and charging compatibility for the life of the tender.

Car buyers outside China depend on the importer's parts pipeline, which is thinner than a domestic dealer network.