Chinese automobile manufacturer BYD continues to rise in the electric vehicle market by leaving Tesla behind his own home. In the first week of March, the data in the insurance records revealed how the competition between the two companies was shaped in China.

BYD does not give Tesla a chance in the Chinese market

Tesla received 13,800 insurance records in China last week. Although this means an increase of 11.29 %compared to the previous week, the tendency to decline in the company’s overall performance continues. The company’s sales in February decreased by 11.16 %compared to the previous year and fell to 26,777.

A decrease of 20.55 %compared to January. Tesla’s exports of vehicles produced in China also experienced a major decrease. While the exports from the Shanghai factory remain only 3,911, this figure means a decrease of 87.06 %compared to the same period last year.

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BYD continued to lead in the market last week under the record of 57.400 insurance. However, this figure points to a decrease of 8.01 %compared to the previous week. However, the company’s sales of February reached 322,846 and increased by 163.95 %compared to the same period of the previous year. Compared to January, a 7.42 %rise was recorded.

BYD’s growth moves were not limited to sales figures. The new in -vehicle technology strategy announced last month will bring autonomous driving capabilities to a wider customer base. The company’s premium brand Denza’s new SUV model N9 is expected to be released on March 21st. All these developments showed us that BYD reinforced its superiority against Tesla in China.