2/ Chinese NEV startups are a major focus as we look at an increasingly competitive Chinese market. Surprisingly, the startups had an exceptional September (except you, $LI ), and there was massive growth across all price points. $NIO $XPEV pic.twitter.com/ooXdiCo0D0

— Jack Shea (@RealJackShea) October 12, 2021

4/ BYD delivered a record 70,022 passenger NEVs and 1,077 buses/CVs in September, breaking its previous record by nearly 10k units. Its NEV market share has increased from 12% in Q1 to 22% in Q3. pic.twitter.com/KWNbR45vsJ

— Jack Shea (@RealJackShea) October 12, 2021

6/ BYD’s battery and chip vertical integration allows the company to offer a vehicle lineup that undercuts ICE prices. BYD’s public perception has greatly shifted from a company that makes buses and taxis to a company that makes sleek, affordable, safe, and long-range NEVs.

— Jack Shea (@RealJackShea) October 12, 2021

8/ BYD can’t keep up with its DM-i model demand as there is still a backlog of more than 160k orders. BYD’s hyper-efficient DM-i (PHEV) models are key to converting ICE drivers to NEVs. pic.twitter.com/Dkt5Pxrj8m

— Jack Shea (@RealJackShea) October 12, 2021

10/ Tesla is growing in China, but not as fast as the rest of the market. Its BEV market share has decreased from 19% in Q1 to 11% in Q3. Tesla needs new models in China to keep up with the products being released across all price ranges and vehicle segments. pic.twitter.com/nm0zIZM80v

— Jack Shea (@RealJackShea) October 12, 2021

11/ The Chinese NEV market has seen an explosion of growth this year, and especially this past quarter. With nearly 1.5M passenger BEVs sold this year (up 209% Y/Y), China is meeting its 2025 goal of NEVs accounting for 20% of vehicle sales several years early. pic.twitter.com/MnB1ccYs6n

— Jack Shea (@RealJackShea) October 12, 2021