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BYD overtakes Tesla as top-selling electric car seller, Details

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Akshat Kashyap
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BYD

BYD: Due to Beijing's strong government support for the growing industry, Chinese company BYD has surpassed US automaker Tesla in terms of the most sales of all-electric vehicles. Read on to know the details.

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BYD overtakes Tesla

According to a business filing on Tuesday, the US-based automaker owned by billionaire Elon Musk delivered a record 484,507 vehicles in the fourth quarter of 2023, an increase of more than 11% over the same period the previous year.

However, Chinese rival BYD reported sales of 526,409 for the same time on Monday, meaning that Tesla's dominance as the world's leading manufacturer of battery-electric vehicles was not sustained despite this remarkable growth.

The numbers highlight the difficulties Tesla is likely to encounter this year from rivals eager to take advantage of the rising demand for EVs.

All about BYD

In 1995, the Chinese company BYD (Build Your Dreams) was established, initially specialising in battery manufacturing. In 2003, the company ventured into the automotive industry and has since expanded into many sectors, including solar cell production and smartphone assembly.
Reducing global dependency on fossil fuels by building a clean energy environment is BYD's objective. Around 70 nations worldwide are expected to sell BYD Auto vehicles by 2023.
Compared to a more typical ternary lithium battery, BYD's Blade Batteries were designed to increase safety and reduce efficiency.

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