Tesla has a big competitor. And it is China's BYD

Editor's Note: Sign up for CNN's Meanwhile in China newsletter which explores what you need to know about the country's rise and how it impacts the world. Hong Kong CNN — In 1995, metallurgy graduate Wang Chuanfu founded BYD, a small Chinese company focused on producing rechargeable nickel-cadmium batteries more cheaply than Japanese competitors. Nearly 30 years later, the Shenzhen-based firm has become the world's leading manufacturer of electric vehicles (EVs), even surpassing American giant Tesla (TSLA) in global sales of pure-play electric cars in the last quarter of 2023. But the two companies are still running neck and neck,…