Tesla has just been dethroned by its Chinese competitor BYD (“Build Your Dreams”) in the last quarter of 2023. The American group sold 484,507 electric vehicles from October to December, ahead of BYD by a short head, which delivered 526,409 during the same period. But honor is safe throughout the year. Tesla retains its title of world champion with 1.81 million 100% battery vehicles delivered in 2023. For its part, BYD has only sold 1.59 million. But the pace at which the Chinese manufacturer is running its race could lead it to first position in the months to come. Unlike its American competitor, BYD does not just produce and sell fully electric vehicles. There are almost as many equipped with plug-in hybrid engines. The Shenzhen group produced and sold 3 million passenger vehicles last year. It also manufactures utility vehicles and buses.
Like Tesla, BYD hopes to conquer Europe with its battery cars. The Chinese group confirmed two weeks ago that it would build a new passenger vehicle factory in Hungary. BYD “hopes to accelerate the entry of new energy passenger vehicles into the European market and further deepen its global presence,” the group said at the end of December. BYD has diversified into car assembly after specializing in the production of electric batteries and the construction of battery buses. The company also manufactures semiconductors. A set of strategic components in the global automotive industry.
