Question: BYD Auto Co . , Ltd . is a Chinese multinational manufacturing electric vehicle ( EVs ) . BYD ' s sales volume for the

BYD Auto Co., Ltd. is a Chinese multinational manufacturing electric vehicle (EVs). BYD's sales volume for the fourth quarter of 2023 grew 38%, as the company sold more than 526,000 EVs, nearly 80,000 more than Tesla. With its motto,"EVs for everyone", BYD's line-up of cars cost between USD 13,200 and USD 45,000, compared to Tesla's starting price of USD 50,000.What type of innovation best describes BYD's business model?

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