BYD overtakes Tesla in electric vehicle sales for the first time

Chinese manufacturer BID He surpassed the American for the first time Tesla sales of electric vehicles in the last quarter of 2023, a sign of China’s growing strength in the global market for this type of transport.

Tesla reported Tuesday that it sold 484,507 electric vehicles in the fourth quarter of 2023, less than the 525,409 sold by BYD during the same period.

Despite this, Tesla remained ahead of BYD throughout the year and delivered approximately 1.81 million electric vehiclesmeeting expectations and slightly beating Wall Street estimates.

Thus, deliveries of Tesla electric vehicles increased by 38% compared to the previous year.

According to the company, the vast majority of cars it produced last year, 96%, were Model 3 And Model Y. The rest, about 70,826, were mostly the more expensive Model X and Model S.

Tesla began delivering small quantities of the Cybertruck in December.

Model Y at the Tesla factory. | Photo: Reuters.

Compared to these data, BID almost sold 1.6 million electric vehicles last year, which is 70% more than in 2022.

Tesla’s better-than-expected performance shows the brand remains popular even as its CEO Elon Musk’s image is in question over his social media comments and the stance he has taken against union regulators. authorities and clients.

Musk recently assured that Tesla will grow “faster” than any other car company in the world in 2024.

Meanwhile, BYD’s rapid growth with the support of a famous American investor Warren Buffettshows the strength of the electric vehicle sector in China.

BYD, a leader in China’s electric vehicle sector and the world’s third-largest EV battery maker, recently set its sights on the European market by opening a production plant in Hungary to avoid any trade restrictions.

(according to information from EFE)

Source: Aristegui Noticias