OCTOBERASIA BUSINESS OUTLOOK9BYD is gaining ground on Tesla as the world's largest EV seller, with the Chinese automaker gaining traction in its global sales push.Last quarter, BYD came dangerously close to overtaking Tesla in terms of sales, owing partly to manufacturing downtime, which resulted in Tesla's first delivery fall in over a year. BYD sold 431,603 fully electric vehicles in the three months ending September 30, a 23 percent increase over the previous quarter. In comparison, Tesla shipped 435,059 cars globally during the same time period, with a 3,456-vehicle difference between the two, the smallest margin to date.Taylor Ogan, CEO of Snow Bull Capital, a Shenzhen-based hedge fund holding shares in both companies, confidently predicted, "BYD will sell more fully electric passenger vehicles than Tesla in the fourth quarter."BYD sold 822,094 vehicles, including hybrid models, achieving another record-breaking quarter and consolidating its position as China's top-selling auto brand. BYD has broadened its market appeal by delivering low-cost vehicles to many customers.The business launched two premium EV brands, Yangwang and Fang Cheng Bao, with a price tag of 1 million yuan ($137,000)--more than double the price of some of its previous high-end vehicles. Furthermore, it introduced two low-cost versions, the Seagull and Dolphin, undercutting competitors in pricing.Meta Platforms, a social media company, announced on Oct 4 that it has begun rolling out generative artificial intelligence (AI) technologies that can generate material such as image backgrounds and variations of written text for all marketers.In May, the business began testing these capabilities by providing access to a restricted number of advertisers in a "testing playground." The tools will be available in Meta's Ads Manager and fully implemented next year.The launch represents the company's first effort to incorporate generative AI technology into its products for mining massive volumes of historical data to develop new content such as literature, art, and software code.The company said last week that businesses will soon be able to use AI for business messaging on Messenger and WhatsApp to communicate with consumers.Meta's AI portfolio includes the language model "Llama 2" and Meta AI, an AI chatbot that can generate text responses and photo-realistic graphics. BYD TO SOON SURPASS TESLA IN EV SALESMETA RELEASES GENERATIVE AI AD SERVICES FOR MARKETERSNEWSROOM
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