In the last quarter of the year, Byd produced more than 40,000 cars more than Tesla.
The American car manufacturer Tesla has lost its title as the world’s leading electric car company.
Billionaire Elon Musk’s piloted by Tesla produced 484,507 vehicles in the last quarter of 2023 – more than 11 percent more than in the previous quarter.
However, this was not enough for the number one position on the market.
On Monday, the Chinese company Byd announced that it produced 526,409 vehicles in the last quarter of the year.
According to experts, the numbers reflect well the challenges Tesla will face in the next few years. The growing demand for electric cars has attracted more investments and new companies to the market, which aim to undermine Tesla’s position.
According to news agency AFP, Tesla’s share value fell slightly after Byd’s announcement, until it later rose to its previous level.
When all production volumes are added together, Byd is clearly a bigger car manufacturer than Tesla. In addition to electric cars, the Chinese company manufactured more than 400,000 hybrid cars in the last quarter of 2023. In total, Byd produced more than three million passenger cars last year.
Measured on an annual basis, however, Telsa is still the largest manufacturer of electric cars. The company sold more than 1.8 million cars last year – more than 200,000 more than Byd in the same period.
Source: AFP