In the last ten centuries, China has recorded the world’s largest economy at least 7 times. Before the effervescence of the United Kingdon and subsequent ascension of the United States in late 1890s as the global economic leader, China and India ran the show.

The trajectory seems to be on course again for China. In the latest ranking of Fortune Global 500, Greater China, including Taiwan, recorded 142 companies to United States’ 136. No other country broke 45 companies. Simply, the world economic race  is largely between America and China.

Looking deeper, one can see a huge re-positioning by China even in the elective vehicle space: “In a seismic shift within the electric vehicle (EV) industry, China’s BYD Co. is on the cusp of overtaking Tesla Inc. as the global leader in fully electric vehicle sales, signifying a monumental turning point in the automotive industry. This anticipated milestone, expected in the current quarter, not only symbolizes a shift in the market but also underscores China’s escalating influence in the global automotive sector, according to an analysis by Bloomberg.”

To many people in the developing world, China is likely going to be the provider of their future vehicles because China has better comparative advantages over Japan, Korea, and the United States, when it comes to making electric vehicles. Yes, the competitor that Elon Musk has to worry about may not be Detroit car makers but a Chinese brand. As that happens at a very fast pace, Nigeria has to watch those oil wells, and how far they could be continue to power their transient relevance, because a global shift is just around the corner.

China’s BYD Steers Ahead of Tesla in Global Electric Vehicle Sales

In a seismic shift within the electric vehicle (EV) industry, China’s BYD Co. is on the cusp of overtaking Tesla Inc. as the global leader in fully electric vehicle sales, signifying a monumental turning point in the automotive industry.

This anticipated milestone, expected in the current quarter, not only symbolizes a shift in the market but also underscores China’s escalating influence in the global automotive sector, according to an analysis by Bloomberg.

The Economic Times reports that the ascension of BYD, in tandem with other Chinese manufacturers like SAIC Motor Corp., signifies a paradigm shift in the EV market. China, now competing head-on with established automotive giants like Japan, has emerged as a dominant force in global passenger car exports, shipping around 1.3 million electric vehicles out of 3.6 million worldwide by October of this year.

Bridget McCarthy, Snow Bull Capital’s head of China operations, highlights the industry’s evolution: “It’s no longer about the size and legacy of auto companies; it’s about the speed at which they can innovate and iterate.”

BYD’s proactive stance towards innovation has positioned it as a frontrunner, compelling others in the industry to accelerate their progress.

The shift in EV sales dominance mirrors the competitive interplay between Tesla’s Elon Musk and BYD’s founder, Wang Chuanfu. While Musk has voiced concerns over affordability, citing high-interest rates limiting consumer accessibility to Tesla’s EVs, Wang has taken an assertive stance. BYD offers multiple high-volume models at significantly lower prices than Tesla’s offerings in China.

Even Musk acknowledges the competitiveness of BYD’s current vehicles, a notable departure from a 2011 incident where he derided BYD’s cars during a media appearance. This shift in the global EV hierarchy encapsulates Wang’s long-standing vision, rooted in the early stages of China’s electric car industry.

BYD’s expansion beyond its domestic market encounters challenges. Europe is poised to join the US in imposing higher tariffs on Chinese car imports, aiming to protect local manufacturing jobs. While trade tensions make the US market seemingly inaccessible, other international EV markets are still nascent and less lucrative than China’s.

Wang, known for a more reserved persona compared to Musk, boldly advocates for Chinese brands to challenge established norms in the global auto industry. Berkshire Hathaway’s investment in BYD in 2008 underscores the company’s remarkable growth. Warren Buffett’s investment soared nearly 35-fold to around $8 billion before Berkshire began reducing its stake.

Charlie Munger, Berkshire’s late Vice Chairman, regarded BYD as a significant player in the battery industry, recognizing its pivotal role in shaping the technological future. BYD’s journey from acquiring a struggling state-owned automaker in 2003 to introducing its first plug-in hybrid in 2008 marked its initiation into the EV landscape.

Leveraging extensive government support, including subsidies and incentives, and equipped with its battery production capabilities, BYD gained a strategic advantage. Despite initial criticisms of its designs, strategic hiring from renowned automotive brands and evolution from basic models to more luxurious offerings positioned BYD as a formidable competitor.

Although government subsidies played a role in China’s EV growth, industry experts highlight the catalytic effect of heightened competition. Presently, Tesla maintains an edge over BYD in revenue, income, and market capitalization.

However, analysts project a significant narrowing of these gaps next year, with Tesla expected to generate $114 billion in sales compared to BYD’s $112 billion, marking a compelling trajectory in BYD’s rise within the global EV arena.

In a dramatic turn of events, tech giant Apple has secured a crucial temporary halt to the ban on its Apple Watch series. The U.S. Court of Appeals for the Federal Circuit has granted Apple a respite, allowing the company to continue selling and importing its watches with blood oxygen sensors.

This decision comes in the wake of a contentious patent infringement dispute with Masimo, a battle that has gripped the tech world in recent months.

Apple had faced a critical setback when the Biden administration chose not to intervene, triggering the ban on sales of the Apple Watch Series 9 and Apple Watch Ultra 2. However, the Cupertino giant swiftly moved to appeal the decision, seeking a pause until further clarity was obtained in January.

In a statement addressing the recent turn of events, Apple highlighted the potential damage the ban could inflict, citing “irreparable harm” if the restrictions remained in place. The company expressed confidence in a proposed software update as a potential resolution to the issue, eagerly awaiting a decision from Customs and Border Protection, scheduled for January 12, 2024.

Crucially, Apple’s appeal outlined redacted details pertaining to a redesign of the contentious watches. The tech giant firmly believes that this redesign will eliminate any plausible infringement concerns, positioning the modified products beyond the scope of the current remedial orders.

Apple’s legal maneuvering included a plea for an expedited resolution, emphasizing a proposed briefing schedule that could have hastened the decision by late December. However, the current timeline places the pivotal ruling on January 12, nearly three weeks after the initial imposition of the Apple Watch ban.

Bloomberg’s earlier report on Apple’s efforts to circumvent the ban on Apple Watch’s blood oxygen sensor has ignited a heated debate within the tech industry. The report suggested that Apple was racing to develop software workarounds for the sensor, intending to submit these changes to the U.S. customs agency.

This development injects a dose of optimism into Apple’s ongoing struggle against the ban, setting the stage for a crucial decision on January 10 that could determine the fate of the sales restriction.

However, the patent dispute’s intensity became clearer as Masimo, the opposing party in the infringement battle, challenged Apple’s proposed solution. Masimo has emphatically stated that merely implementing a software fix won’t suffice. According to Masimo, the fundamental hardware of the Apple Watch needs modification to comply with the patent regulations, dismissing Apple’s software-based remedy as inadequate.

See copies of the ruling below:

Apple achieved a temporary victory in its smartwatch battle Wednesday when an appeals court temporarily paused the import ban on two models of the company’s popular smartwatches. Apple was forced to stop selling its Series 9 and Ultra 2 watches in the U.S. after a federal trade agency found it had infringed on two patents for a blood-oxygen sensor held by Masimo. Apple Watch sales, driven largely by the Series 9 and Ultra 2, accounted for about $21 billion in revenue in 2022.

Apple had filed its appeal on Tuesday, a day after the White House declined to reverse the sales ban. Apple’s Vision Pro mixed-reality headset is expected to be launched in retail stores in late January or February, analysts and insiders say. (LinkedIn News)