Chinese BYD dethrones Tesla

Tesla, owned by Elon Musk, has lost its market leadership to China's BYD. The Shenzhen-based company, which sold more than 500,000 battery electric vehicles worldwide in the fourth quarter of 2023, surpassed Tesla in delivery numbers.

Don't leave your news choices to an algorithm - decide for yourself what you read. Add 12punto to your preferred sources!

Chinese electric car manufacturer BYD sold more than 500,000 battery electric vehicles (BEVs) worldwide in the fourth quarter of 2023, pushing the Shenzhen-based company's deliveries above those of its US rival and long-time market leader Tesla for the first time.

With 3.02 million vehicles in 2023, this was nearly twice as high as the previous year.

However, while about 1.4 million of these cars were hybrids, Tesla remains ahead in terms of fully electric cars with approximately 1.84 million vehicles produced.

BYD, an acronym for "Build Your Dreams," sells about 20 percent of its vehicles in the domestic market. However, the company plans to focus more on Europe in the future.

So far, there are five different BYD models available in Europe, and the company is considering adding 3 new models to this figure.

News Source: 12punto

Chinese BYD dethrones Tesla

Most Read