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Global EV market faces major shakeup as Tesla recedes, BYD ascends

Summary by Semafor
The NewsAsian electrical vehicle optimism is in the ascendent: Chinese EV company BYD’s announcement that its chargers can in five minutes give its cars enough juice to run for 250 miles catapulted its market value to more than $160 billion — far above that of established Western automakers like Ford and GM.US EV darling Tesla, by contrast, has seen its shares fall precipitously since December: Its market value fell by about $700 billion in that…

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AfroTech broke the news in on Thursday, March 20, 2025.
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