BYD, China’s leading electric car maker, overtakes Tesla in sales sales figures announced by Reuters. The company recorded a 21 percent increase in electric vehicle sales during the second quarter. That’s a total of 426,039 EVs between April and June, just 12,000 fewer than Tesla’s estimated deliveries for the same period. This puts BYD in a good position to become the world’s leading vendor.
Tesla reported a five percent drop in shipments for the latest quarter, the first time the company has experienced it. a drop of exactly two quarters. It produced 410,831 units and delivered 443,956 EVs in Q2. Compared to the first quarter, production decreased by more than 20,000 units. Analysts like Barclays have predicted an even steeper decline, so this is (sort of) good news for the company.
There there are many of factors It plays into Tesla’s declinebut the fact that there seems to be the greatest possibility abandoned budget-friendly models in favor of robotaxis and dystopian stainless steel beasts. BYD’s cars are fantastically cheap with recently launched cars A seagull starting at just $10,000. Of course, the company doesn’t have much presence still in the US and tariffs on imported Chinese cars I hope it stays that way. AB showed a similar approach to stem the flow of cheap Chinese electric cars.
BYD is part of China Industrial strategy to topple US automakers, although there is a surefire way to stem the tide. Car manufacturers need to produce cheaper electric cars. BYD is becoming a global phenomenon because it makes budget-friendly zero-emission electric cars. Some manufacturers have noted. For example, look at the Nissan Leaf or the Hyundai Kona. Is there a company that completely ignores the memo? Tesla.
