BYD stands for Build your Dreams. They have now broadened that dream to the ever mysterious hydrogen sector. They have made the official with their latest project. BYD emerged out of China and quickly became Tesla’s biggest competitor in the EV sector. With the world embracing the alternative fuel sector it was only a matter of time before a company came along that would challenge Tesla’s dominance in the alternative power sector. And BYD have managed that very successfully indeed. They have disrupted Tesla’s dominance on the global markets.
How did BYD manage to dethrone the all powerful Tesla?
BYD was founded in China by a chemist in 1995 and at first only produced batteries. They would end up moving into the automotive sector, no doubt due to a sizeable investment from Warren Buffet in 2008. That is when things started to get interesting. The emergence of the EV market, and specifically Tesla, was the moment that BYD and its investors were waiting for.
BYD managed to make a significant challenge to Tesla in the global EV market. The difference between Tesla and BYD is that while Tesla is focused on luxury EV’s that cost a lot, BYD has a range of EV’s that cater to a larger consumer price bracket. This, along with some truly masterful marketing strategies, gave BYD the growth it was looking for.
Its rapid growth in the international market was coupled with a range of government subsidies from pretty much all the countries that BYD operate. And the amount of countries is only increasing. Growing their market share tremendously. They are now the world’s largest EV seller, a title that will surely bother the ever emotional Elon Musk. Like he needs anymore problems at this point.
How have BYD entered the hydrogen fuel sector?
The success that BYD found in the EV sector was inevitably going to lead them in another direction. They have now announced a new type of engine in the works. They have now decided to expand their reach into the hydrogen fuel cell. BYD announced a partnership with the state of Hawaii recently. They will produce hydrogen engines for buses to be used at Honolulu’s Daniel K. Inouye International Airport.
The partnership is with the U.S. Hybrid Corporation and will see the pair make the buses to drive the airport passengers to and from the terminals and car rental centre. The U.S. Hybrid Corporation have been operating in Hawaii since the 90’s and have made huge progress in the large scale applications of the hydrogen fuel cell. The partnership is aimed at bringing the reliance on large diesel engines for commercial vehicles to an end.
The world is making huge progress in the pursuit of the next sustainable fuel source that can propel the human race into the future. Major car manufacturers have made huge investments in the alternative energy sector, while the governments of the world incentivise the zero-emission vehicles for use on their roads. So the new project by BYD is not only a big deal for them, but for us all.
Will the other states in the US follow the example set in Hawaii?
Hawaii has always been known around the world for its natural beauty. From the early 60’s American tourists began flocking to the island to enjoy its natural beauty. So one can understand the states need and interest in the alternative fuel sector. The world is making more and more discoveries almost everyday in the alternative fuel sector. This move by a US state is a step in right direction as far as the world is concerned. Who and what contribute to that step is of no concern to some in the United States, even if the company is Chinese.
