Competition is surging in China's EV market, and it's hurting Tesla's biggest rival
1. BYD's global sales dipped 12% in October, facing rising competition. 2. Tesla maintained strong sales in China, selling 71,000 vehicles in September. 3. BYD's profits fell by a third year-over-year amidst fierce local competition. 4. BYD's overseas sales surged 169%, aiming for international expansion. 5. Market consolidation expected as competition intensifies among EV manufacturers.