Tesla Is No Longer the World’s Largest Ev Producer
Warren Buffett-backed Chinese automaker BYD has become the world’s largest seller of electric vehicles, overtaking the previous leader, Tesla.
Company filings published on July 3 revealed that BYD had sold 638,157 electric or plug-in hybrid passenger vehicles in the first half of 2022.
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Tesla Is No Longer the Largest EV Producer
It’s an increase of almost 325 percent compared to the same time last year. BYD sold 133,762 all-electric and plug-in hybrid cars in June alone. BYD had sales of 323,519 battery electric vehicles and 314,638 plug-in hybrid vehicles during the first two quarters of the year 2022.
According to the numbers presented in both the company’s first and second quarter reports, Tesla, on the other hand, was able to deliver a grand total of 564,743 automobiles during the first half of the year.
The reports revealed that Tesla had struggled throughout the year with supply chain issues and factory shutdowns.
— laurenfix (@laurenfix) July 2, 2022
Business Insider reported a 36% increase in BYD stock since January and said the company was able to avoid factory closures due to the lockdown. However, earlier this year, a COVID-19 outbreak in Shanghai forced Tesla to close its factory there temporarily.
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