The company selling the most electric cars has been announced. Chinese manufacturer BYD tripled its sales and overtook Tesla.
Tesla, which has been at the top of the electric car world for years, has lost the top spot to a Chinese manufacturer. According to data for the first half of the year, Chinese automobile giat BYD dethroned Tesla, the world’s top electric car seller.
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Chinese BYD overtook Tesla by selling 641 thousand cars
According to a report by the Financial Times, BYD broke a new record by selling 641 thousand electric cars in the first six months of 2022. The Chinese manufacturer is on its way to surpass Tesla to become the world’s largest electric and hybrid car manufacturer.
With Chinese citizens turning to electric and hybrid models, the Shenzhen-based brand also saw a new record in sales. BYD, in which billionaire investor Warren Buffett also owns shares, managed to increase its sales by 315 percent on an annual basis. Accordingly, it sold 641 vehicles in the last six months.
Tesla’s sales in the last six-month period were not at a level to be underestimated. Struggling with disruptions in the supply chain and coronavirus-induced quarantines, Tesla managed to sell 564 thousand vehicles. In other words, it was almost 80 thousand vehicles behind Chinese BYD.
Previously, Tesla CEO Elon Musk had heavily criticized his company. Musk said that they had difficulty in getting electric car batteries, especially from China, and complained about the slowdown of the production line. According to Musk, billions of dollars are wasted in Tesla factories.
In fact, all automotive companies had to reduce their production due to 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 does not only consist of automobiles. According to the report, the Chinese company produces electric bicycles, forklifts, solar panels, cell phone batteries, as well as hybrid buses, vans and commercial vehicles. While it’s only in China for now, let’s not ignore that the Asian country is a pretty big market. More than 3 million electric cars were sold in 2021 alone.
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