As we all know, the new energy vehicle industry has seen a rapid rise in China and around the world, and Tesla, as a leader in this industry, is worthy of our in-depth understanding of its success secret. Tesla's success lies not only in the outstanding performance and advanced technology of its products, but also in its unique business strategy. With cost reduction and eyeballs at its core, Tesla has adopted two key strategies to earn itself a leading position in the industry.
First of all, Tesla is very focused on cost reduction. Unlike other car companies, Tesla is not good at R&D technology and building products, but instead invests more resources in reducing costs and innovating. Take the Cybertruck, an electric pickup truck, for example, a peculiar model designed by Tesla to attract attention, which was originally planned to deliver 10 vehicles in four years, and it was also used by internal employees. Such a strategy may seem unconventional, but it fully demonstrates Tesla's eyeball attraction and innovative thinking. Tesla has gained a huge amount of attention and word-of-mouth in the market by reducing costs, as well as introducing compelling products and behavior patterns.
Secondly, Tesla attaches great importance to the shaping of its brand image and strives to stand in the spotlight. In addition to the innovation and high performance of the product itself, Tesla also actively attracts the attention of the society through corporate behavior, founder Musk's remarks, etc. Tesla's behavior is always different, offbeat, and funny, which gives people a sense of being different, which further enhances Tesla's popularity and market competitiveness. Tesla's innovative image and unique brand strategy have established a unique position and advantage in the market.
When it comes to the leading companies in China's new energy vehicle industry, BYD is undoubtedly an existence that cannot be ignored. BYD's achievements are inseparable from its investment in technology accumulation and focus on product quality and user experience. BYD's success is no accident, and like many made-in-China brands, it advocates the investment of real gold** technology, focuses on creating high-quality products, and continuously improves the user experience and efficient brand marketing.
A surprising statistic shows that BYD doesn't rely too heavily on advertising compared to its rivals that are far ahead in terms of sales. In the two years after 2019, BYD's advertising investment was relatively low, at 05% and 06%, which is in stark contrast to the investment in technology and products. For example, BYD has invested nearly 70,000 people in R&D personnel, ranking first among A-share listed companies. Not only that, according to statistics, the number of BYD's patent applications in 2021 reached 2480,000 pieces, and the number of effective invention patents has reached 0640,000 pieces, ranking first among listed companies in China's automotive industry. These data reflect BYD's great attention and investment in technological innovation.
However, BYD is unique because it is different from other companies in terms of technology and product investment. Unlike some companies that regard technology as their primary goal, BYD pays more attention to thinking about user needs and creating products that are truly deeply rooted in the hearts of the people according to market demand. BYD's products can accurately meet the needs of different user groups and win their love and recognition.
We can also understand BYD's uniqueness more deeply through a story. On a short trip in 2017, we rented a BYD Qin for travel. This is the first time we have driven a new energy vehicle, and through this experience, we have deeply realized BYD's accurate grasp of the needs of young people. The BYD Qin gives people a sense of fun and fun, and at the same time is not too expensive, which is completely in line with the taste of young people. Compared with some gasoline vehicles, such as Mercedes-Benz, BMW, and General Motors, which we have driven, these brands tend to blur the concept of age, catering to the preferences of middle-aged people and trying to cater to the tastes of young people. However, BYD was able to pinpoint its target customers and create products that met their needs and preferences. This is the importance of accurately targeting customers, and through a deep understanding of user needs, we can effectively implement accurate and efficient brand marketing strategies.
From the successful experience of Tesla and BYD, we can see the common characteristics of the winners. First, the winner is usually different from the rest and has a unique position and advantage in the industry. They understand and understand the needs of consumers, and launch differentiated products and services in response to market needs, so as to stand out in the fierce market competition.
Second, the winner pays attention to technical input and product quality. They are constantly pursuing technological innovation and product upgrades, and are committed to providing a better user experience and quality assurance. By investing a lot of resources and energy, we have made breakthroughs in the field of technology and created value for users.
Third, Winner insists on accurate and efficient brand marketing. By accurately targeting customers, they accurately grasp the market demand and create products that meet the market demand according to consumer preferences and needs. At the same time, they actively shape the brand image and effectively communicate and interact with consumers through multiple channels to enhance the brand's awareness and reputation.
In short, the winners are often enterprises that truly understand the needs of consumers, and they will invest in technology, product and brand marketing, etc., and win the recognition and support of the market and consumers through unremitting efforts and breakthrough innovation. In the new energy vehicle industry, Tesla and BYD are both successful models, and their successful experience is worth learning from other car companies.