Tesla Losing Ground to China’s BYD EV Company

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by Chris Black

Whether or not electric cars are a good idea is debatable, but there is  a place for them in ultra-urban environments which become very smoggy.

Mark my words: BYD is going to become world’s top EV company in a few years.

US government-funded projects always fail miserably.

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Tesla was always a scam company designed to eat up public funds and then hype out stock prices.

CNN:

China’s BYD sold a record number of cars in 2023, moving it closer to displacing Tesla as the world market leader for electric vehicles.

The Chinese company posted a 62% surge in global sales to just over three million units last year, compared to 2022, according to a stock exchange filing.

BYD sold 1.57 million battery electric vehicles (BEVs) last year, up 73%, as well as 1.44 million hybrids, 52% higher than the previous year.

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Tesla is due to unveil its full-year sales figures as early as Tuesday. Analysts expect the US EV maker to have roughly met its annual delivery target of 1.8 million BEVs. It does not sell hybrids.

In 2022, BYD trailed Tesla in global BEV sales by about 400,000 units. The gap is expected to have narrowed last year. And in the most recent quarter, BYD may have already overtaken Elon Musk’s company.