易车：吉利与小米谁更能威胁比亚迪：比亚迪市场竞争力分析报告 （2026版）（英文版）（26页）.pdf

1、Insights on BYD MarketCompetitiveness(2026)TengYi Research InstituteGeely or Xiaomi:Whos the More Serious Threat to BYD?AuthorsDirector/Chief ALijun ZhouIndustry ABenya ShiIndustry AShixiang WangFrom 2023 to 2024,Geely undertook a series of rapid and targeted adjustments in response to BYDs advantag

2、es such as its vertically integrated system and DM-i fuel-saving technology and quickly launched corresponding technologies including the“Shield Battery”and EM-i hybrid system.By late 2024,Geely had become the first to introduce a new portfolio of models built on its revamped procure-ment system and

3、 new product technologies,including the Galaxy E5,Starship 7 and Xingyuan.In 2025,Geely continued its rapid rollout with another wave of new products such as the Xingyao 8,Galaxy A7,Galaxy M9 and Xingyao 6;These new products not only directly benchmark BYDs models in the same segments,but are also a

4、ggressively priced,instantly intensifying the competition with BYD.In 2024,BYDs primary competi-tor was still VW,yet by 2025 it had become Geely.Geelys new benchmark models quickly achieved high volume and breakout sales,with the standout model Xingyuan surpassing 50,000 units in monthly sales in th

5、e second half of 2025,rapidly diluting BYDs leading advantage in China.BYDs quarterly retail sales lead over Geely was 400,000600,000 units in 2024,but by the first three quarters of 2025,the lead had narrowed to 200,000300,000 units reduced by more than half.Encouraged by its strong performance in

6、the first half of the year,Geely raised its 2025 sales target from 2.71 million to 3 million units in the summer;As its leading advantage narrowed rapidly,BYD became increasingly concerned and began making active adjustments in the second half of the year.It slowed down its strategic shift from the