BYD faces a roadblock in India — just as Tesla tries to expand in the world's 3rd largest auto market

Group 1: India and BYD - India has blocked BYD from expanding in its auto market, citing national security concerns and accusations of "unfair practices" [1][2] - BYD's proposal for a $1 billion joint venture in India was previously rejected [1] - In 2024, BYD sold only 3,500 cars in India, representing less than 0.1% of its global sales of 4.27 million [2] Group 2: Tesla's Efforts in India - Tesla is increasing efforts to enter the Indian market, which is the world's third-largest car market [3] - The company listed 13 job openings in Mumbai shortly after a meeting between Prime Minister Modi and Elon Musk [3] - Tesla's ambitions have faced criticism from former President Trump regarding India's high import tariffs on EVs, which can reach up to 100% [3][4] Group 3: Market Dynamics - Tesla's stock has decreased by 41% this year, while BYD shares have increased by nearly 20% [5] - Last year, BYD surpassed Tesla in global EV sales revenue for the first time, outpacing Tesla by approximately $10 billion [6]