I think the problem for most other car manufacturers is that BYD has had extensive history in battery manufacturing and technology, while it’s had 20 years to catch up on the car manufacturing side, which the likes of Hyundai and Kia show is quite a lot of time, not to mention with the benefit of modern technology.
The simple fact is, in this market, price still matters a lot, and if the Chinese EV manufacturers are the only ones who are producing cheaper EVs, then it’s game over. I posted this two months ago now:
European manufacturers (no idea about American ones) are shooting themselves in the foot by trying to use protectionist measures to extract profit instead of investing to catch up.
The advantage of Chinese EVs will not be eroded by going protectionist, but by investing. The brand cachet of the traditional manufacturers is still there, but they’re running out of time…