This Chinese Electric Car Maker Beats Tesla To Become World’s #1 EV Company! Registers 300% Growth..
If you think, Tesla is the best-selling EV brand in the world then the throne is already occupied by a different brand.
How Did This Happen?
The sales figures show that BYD was able to sell more vehicles than Tesla in the first half of 2022.
This also marks a growth of 300 percent compared to the same period last year.
Further, the sales figures suggest that these two EV makers are not very close, with Tesla falling behind by a mega margin.
The reports said that BYD managed to move 641,000 units from January to June in 2022.
At the same time, Tesla could only manage to sell 564,000 units, apparently much lower in comparison.
Interestingly, BYD mostly operates in its home market contrary to Tesla which has presence all over the world.
Why Did This Happen?
It is worth mentioning here that Tesla had reasons why it managed to sell fewer vehicles than BYD in the same period.
In its own words, the lower sales figures were mainly affected by the supply chain issues and sales disruption following the various COVID lockdowns in China .
Tesla manufacturing unit, its Gigafactory in Shanghai, which is a region that observed weeks-long lockdown.
BYD’s factories are located in regions that were less affected by the lockdown measures.
Tesla Cybertruck Rollout
Moreover, things could change once the Tesla Cybertruck rollout of the factories.
So far, the Cybertruck EV is one of the most hyped EVs in the market and expected to be a gamechanger in the world of pickups.
When it comes to BYD, this is not the only record it has broken.
In recent times, BYD has overtaken LG as the world’s second largest battery maker for electric vehicles, following another Chinese battery maker CATL.
Presently, most of Tesla’s vehicles rely on LG batteries as well.
Other vendors like Ola S1 Pro electric scooter from Ola Electric uses LG batteries as its power source.
It appears that things could be getting tough for Tesla down the road In the coming days.
With the growing market, several automakers are doubling down on their EV ambitions, such as Audi , BMW, Mercedes, Volkswagen and more.