Wednesday 3 January 2024

BYD surpasses Tesla as world’s top EV maker

Tesla, previously holding the position as the world's leading electric vehicle manufacturer, has been overtaken by Chinese automaker BYD in the latest quarter of 2023.

Tesla delivered 484,000 cars, surpassing analyst expectations but falling short of BYD's record sales of 526,000 battery-only vehicles.

The shift highlights BYD's significant growth over the past decade, marking a departure from its relatively obscure status, even as Elon Musk had previously downplayed the Chinese group.

In July 2023, ELN covered the news that Tesla is gearing up to enter the UK energy market.

The company plans to provide direct electricity services to households, potentially presenting a competitive threat to established energy suppliers.