The Chinese company BYD has become a serious competitor to Tesla. In the fourth quarter of 2023, the Chinese manufacturer sold more than 520 thousand electric vehicles, and the Texas company Tesla sold 480 thousand.
BYD aims to conquer the global electric vehicle market. Two years ago I started selling them in Europe.
In terms of annual indicators, Tesla is still ahead. It sold just over 1.8 million electric vehicles, up about 40% from 2022. This is good growth for a young company. However, the Chinese manufacturer is doing even better with this. In 2023, it sold 73% more electric vehicles than in the previous year – almost 1.6 million cars.
Meanwhile, BYD and other Chinese electric vehicle makers pose a challenge not only to Tesla, but also to the world’s largest auto companies such as Volkswagen, Ford, Honda and Toyota.
Tesla was founded in 2003. Its first electric car debuted in 2008.
The Chinese conglomerate BYD began its history in 1995. At first he specialized in the production of batteries, then he began to build cars. Moreover, unlike Tesla, it produces both hybrid cars and cars with an internal combustion engine. In total, BYD sold three million passenger vehicles in 2023.
