Elon Musk, CEO of Tesla, jokingly dismissed China's BYD as a competitor during a Bloomberg interview, highlighting their cars as a reason for his amusement 

BYD experienced a remarkable surge in profits, with over 400% growth in the first quarter compared to the previous year 

BYD's vehicle sales nearly doubled, reaching an impressive figure of 550,000 globally 

BYD has surpassed Volkswagen as the best-selling brand among automakers in China, establishing itself as a dominant force in the global EV industry 

Industry leaders, including Volkswagen CEO Oliver Blume and Ford CEO Jim Farley, have acknowledged BYD's strength and recognized it as a formidable competitor 

Berkshire Hathaway's vice chairman, Charlie Munger, declared that BYD is far ahead of Tesla in China