Tesla, BYD and Xiaomi are on their way to taking a first a small bite out of traditional manufacturers... but later a not-so-small bite.
As of today:
- Tesla is biting somewhat out of US, China and Europe.
- BYD is biting A LOT everywhere except US and Europe, and starting to bite in Europe.
- Xiaomi is only biting in China... for now.
Future?
As they keep ramping up production, lowering prices, and building them with better batteries, they'll eating larger and larger bites.