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Chinese company BYD has moved a step closer to toppling Elon Musk’s Tesla as the world’s biggest-selling manufacturer of electric vehicles.
The firm said on Monday it had sold a record 526,000 battery-only vehicles in the last three months of 2023.
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For the year as a whole, Shenzen-based BYD said it had sold more than 3 million so-called-new energy vehicles (NEVs), which includes battery-only vehicles and hybrids.
Almost 1.6 million of its total sales were battery-only vehicles, the firm said.
Industry analysts have forecast that Tesla sold around 483,000 electric vehicles in the last three months of 2023 and 1.82 million for the year as a whole.
This is the best summary I could come up with:
Chinese company BYD has moved a step closer to toppling Elon Musk’s Tesla as the world’s biggest-selling manufacturer of electric vehicles.
US-based Tesla is scheduled to release its latest quarterly vehicle production and delivery figures before Wall Street opens on Tuesday.
Industry analysts have forecast that Tesla sold around 483,000 electric vehicles in the last three months of 2023 and 1.82 million for the year as a whole.
Last January, Mr Musk said that Tesla had the potential to achieve 2 million deliveries in 2023 but had since warned that higher borrowing costs were putting pressure on demand for his company’s cars.
The company made a name for itself as a manufacturer of rechargeable batteries - used in smartphones, laptops and other electronics - that competed with pricier Japanese imports.
It started selling its shares on the stock market in 2002 and diversified by purchasing a struggling state-owned car manufacturer, Qinchuan Automobile Company.
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