Tesla, which has been at the top of the electric car world for years, lost the summit to a Chinese manufacturer. According to data for the first half of the year, Chinese auto giant BYD dethroned Tesla, the world’s top electric car-selling company.
Chinese BYD overtakes Tesla by selling 641,000 cars
According to the report prepared by the Financial Times, BYD broke a new record with the sales of 641,000 electric cars in the first six months of 2022. The Chinese manufacturer is on its way to becoming the world’s largest electric and hybrid car manufacturer, surpassing Tesla.
With Chinese citizens turning to electric and hybrid models, the Shenzhen-based brand also saw a new record in sales. BYD, which is also owned by billionaire investor Warren Buffett, managed to increase its sales by 315% on an annual basis. Accordingly, it sold 641 vehicles in the last six months.
Tesla’s sales for the past six months were also not at a level to be underestimated. Struggling with disruptions in the supply chain and coronavirus-induced quarantines, Tesla managed to sell 564,000 vehicles. In other words, it was almost 80 thousand vehicles behind the Chinese BYD.
Previously, Tesla CEO Elon Musk made heavy criticisms of his company. Stating that they have difficulty in buying electric car batteries, especially from China, Musk complained about the slowdown of the production line. According to Musk, billions of dollars are wasted at Tesla factories.
In fact, all automotive companies had to reduce their production due to the Covid-19 quarantines. Along with Tesla, Li Auto Inc, Xpeng and Nio were among the companies that had to restrict their operations.
Chinese BYD’s field of activity is not just automobiles. According to the report, the Chinese company produces electric bicycles, forklifts, solar panels, cell phone batteries, as well as hybrid buses, pickup trucks and commercial vehicles. Let’s not overlook the fact that the Asian country is a pretty big market, albeit only in China for now. More than 3 million electric cars were sold in 2021 alone.
What do you think about BYD, the company that sells the most electric cars? Do not forget to share your views with us in the comments section.
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