Constellation Research's Ray Wang believes Tesla versus BYD is 'a story for the ages.'
Tesla has long been an investor favorite for exposure to the electric vehicle transition, but not everyone is convinced. Berkshire Hathaway-backed BYD , for example, is often touted as a better bet than Tesla. "Tesla last year reduced its prices in China twice. BYD increased its prices. We are direct competitors. BYD is so much ahead of Tesla in China ... it's almost ridiculous," Charlie Munger, vice-chairman of Berkshire Hathaway, said last month .
"Long term, Tesla is not a car company and that's the difference. They can get into autonomous driving, robots taxis, and have better underwriting data than most car companies," he said. BYD may also lose its advantage as the lower-cost EV manufacturer as Tesla makes headway on its plan to produce a cheaper variant. Tesla CEO Elon Musk has repeatedly suggested that a $25,000 model is possible and suggested in 2020 that the company could launch such a car in a few years.
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