Tesla Vs. BYD 2023: TSLA Near Buy Point After Cybertruck Event; China Price War Slams Rival

Tesla (TSLA) and BYD (BYDDF) are the world's largest electric-vehicle makers, becoming more direct competitors in China and much of the world.

BYD is growing much faster th

A lot of attention is focused on EV startups such as Nio (NIO), Li Auto (LI), Xpeng (XPEV), Rivian (RIVN) and Lucid (LCID). Efforts by traditional auto giants such as General Motors (GM), Ford Motor (F) and Volkswagen (VWAGY) also get coverage. However, Tesla and BYD stand apart.

In 2022, China EV and battery giant BYD's vehicle sales raced ahead of Tesla's. For all-battery electric vehicles (BEVs), Tesla remains No. 1, but the gap is narrowing, fast. BYD seems set to seize the BEV crown in the fourth quarter.

BYD also has significantly higher gross margins than Tesla, and has massively closed the gap in net income and revenue.

In Q3, Tesla reported its worst earnings in two years, easily missing lowered analyst views. Worse, CEO Elon Musk "tempered expectations" about the Cybertruck, a future Mexico plant and much else on the conference call.