Tesla could lose its throne as the world's top EV maker to BYD. This was predicted by experts after the Chinese EV manufacturer produced over 3 million new energy vehicle units in 2023.
For the past few years, ever since Tesla experienced success, BYD and other automakers from different countries have been making drastic efforts to transition into full EV making.
Now that some of them can make their EV business successful, they are trying to overtake Tesla, most specifically BYD.
Tesla Could Lose to BYD as Top EV Maker Globally!
According to CNBC's latest report, BYD confirmed that it was able to manufacture over 3 million new energy vehicles in 2023 alone. The Chinese automaker announced this achievement on Monday, Jan. 1.
Meanwhile, Tesla hasn't announced its own full-year records. However, the American EV maker said that during the first three quarters of 2023, it was able to produce 1.35 million electric cars.
Comparing the performance of Tesla and BYD in 2022, the Chinese EV maker had the upper hand since it manufactured 1.88 million vehicles while Tesla only produced 1.37 million units.
As of writing, BYD is considered to be a more affordable brand than Tesla. This is because the Chinese EV maker offers cars that have lower prices than those of Tesla.
Aside from this, BYD not only offers full-electric cars but also hybrid models. There's no denying that the achievements of BYD in 2023 deserve applause.
However, the Chinese car manufacturer still needs to do more if it really wants to take the throne from Tesla this 2024.
BYD's Sales Records
Before BYD can be considered the world's top EV maker, it needs to exceed the yearly sales of Tesla in the auto industry. And it looks like this is about to happen soon.
CNN Business reported that BYD sold 1.57 million battery electric vehicles in 2023, which is 73% higher than its BEV sales record in 2022.
Aside from this, BYD also sold 1.44 million hybrid vehicles, which is 52% higher than its 2022 record. But, the Chinese automaker shouldn't get too excited since Tesla said that it would unveil its full-year sales figures as early as Jan. 2.
As of press time, many EV analysts expect Tesla to meet its annual delivery target of 1.8 million BEVs.
