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BYD Overtakes Tesla As Biggest Electric Vehicle Maker, 14 Years After Elon Musk Mocked The Chinese Company
BYD overtakes Tesla as the world’s best-selling electric vehicle maker, 14 Year’s after Musk mocked the Chinese Company.
BYD after the Chinese electric vehicle maker revealed it sold 526,409 electric vehicles in the last three months of 2023.
In the last quarter of 2023 (September-December), BYD sold 526,409 EVs while Tesla delivered a record 484,500 electric vehicles.
BYD’s performance was helped by price cuts of its best-selling passenger cars, including the Qin and Song models.
From January to December last year, BYD sold almost 1.6 million Electric Vehicles while Tesla delivered 1.8 million.
BYD has overtaken Tesla’s eight-year reign as the world’s best-selling electric vehicle maker after the Chinese electric vehicle maker announced it sold 526,409 electric vehicles in the last three months of 2023.
From January to December last year, the Shenzen-based BYD sold almost 1.6 million battery-only vehicles while Tesla delivered 1.8 million, including a record 484,500 electric vehicles in the last three months.
The end-of-year performance crown an extraordinary rise for the Warren Buffett-backed Chinese carmaker that was mocked by American billionaire and Tesla CEO Elon Musk nearly 13 years ago.
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In clips now trending online, Musk, in a 2011 interview publicly dismissed the Chinese company when asked if BYD could compete with United States-based all-electric car company.
“I don’t think they have a great product…. The technology is not very strong”, Musk said, adding that “So I think their focus is and rightly should be on making sure they don’t die in China.”
“For any doubters left in the west, I hope this is the final data point that points to BYD’s strength and, as importantly, how ‘China EV Inc’ has bullied its way onto the global stage,” said Tu Le, founder of Beijing-based advisory company Sino Auto Insights.
According to analysts, BYD’s performance was helped by price cuts of its best-selling passenger cars, including the Qin and Song models, sparked by Tesla’s attempt to chase market share.
