KATHMANDU: Once known only as a battery maker, China’s BYD has grown into one of the most influential names in the global automotive industry. In 2008, the company launched the world’s first mass-produced plug-in hybrid vehicle.
Today, BYD’s market value significantly outpaces that of Renault, a carmaker with more than a century of history.
Former Renault-Nissan-Mitsubishi Alliance chief Carlos Ghosn recently highlighted this shift in a social media post. He said BYD succeeded because it understood a key truth early on.
The auto industry was never just about cars. It was always about mobility solutions. While many traditional brands focused on protecting old business models, BYD rebuilt the industry from the ground up, starting with batteries.
According to Ghosn, this approach turned the established playbook of legacy automakers into a weakness.
BYD did not try to improve the old system. Instead, it created a new one around electric mobility, battery technology, and vertical integration. This mindset allowed the company to move faster and at a lower cost than many established rivals.
The shift is also visible at the market level. China now accounts for about 30 percent of the global auto market, while Europe represents around 15 percent. Renault’s decision to exit China is seen by some as a missed opportunity.
Ghosn argues that when companies face tough markets, adaptation is more important than retreat, as relying only on local leadership may not be sustainable in the long run.
Readers responding to the post echoed similar views. Many pointed out that disruption is not new. Amazon changed retail, Netflix reshaped media, and SpaceX transformed space launches.
In the auto sector, Tesla played a similar role, while BYD is now setting the pace in electric vehicles. Several comments also noted that artificial intelligence could soon disrupt almost every industry, from banking and healthcare to manufacturing and logistics.
A frequently quoted line from Nokia’s former CEO also resurfaced: “We didn’t do anything wrong, but somehow, we lost.” The message is clear. Even companies that follow the rules and protect past successes can fall behind when the world changes around them.
The rise of BYD and electric vehicles shows that disruption is not just about technology. It is about rethinking business models and assumptions faster than competitors.
