Tesla Inc TSLA CEO Elon Muskwho laughed once Warren Buffett–supported Chinese electric vehicle manufacturer BYD company BYDDY BYDDFhas now celebrated his cars.
What happened: Musk recorded it on Friday Twitter to reply to an old clip posted by Tesla owners at the Silicon Valley Clubwhere the billionaire laughs when the journalist questioned him BYD is trying to compete with Tesla.
In the clip, after a quick laugh, Musk replied, “Have you seen their cars?” and then started laughing again. He replied “no” when the journalist asked if he saw them “not at all” as competitors.
However, Musk’s opinion has since changed drastically.
“That was many years ago. Their cars are highly competitive these days,” the billionaire wrote in reply to the tweet.
Why it matters: Musk’s Tesla has faced increasing pressure in recent years from growing competitors in the electric vehicle market, including BYD. The current sales figures posted stunning growth in EV sales, officially making Chinese EV giant BYD the world’s second-largest EV maker is quickly catching up to Tesla.
See also: Elon Musk laughs at Biden’s dig after tech issues plagued DeSantis’ Twitter campaign debut
Meanwhile, earlier this week, Ford Motor Co f CEO Jim Farleyanswering a question as to whether Tesla catching up affects Ford Whether EV earnings are rising or Tesla is under pressure on margins, he said, “Both things will happen.”
Continue reading: Elon Musk ready to interview President Biden: ‘I’d love to join’
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