The predicted shift in the commercial fight between the manufacturers Tesla and BYD is perhaps occurring.
With 526,409 electric vehicles sold worldwide between October and December 2023, according to calculations carried out by Agence France-Presse (AFP) with data published in press releases from the Chinese group BYD, the latter has passed its American competitor, and its 484,507 units delivered, for the first time in a quarter.
On the other hand, over the year as a whole, the American group retained its first place with 1.81 million vehicles delivered worldwide (+ 38% over one year), when BYD returned their owners 1.57 million vehicles (+73%).
BYD (an acronym for “Build Your Dreams”) is one of the most prominent electric vehicle brands in China. The group stopped producing cars with combustion engines in 2022 to focus on hybrid and electric models.
Tesla launched its electric pickup, the Cybertruck
“BYD has a structural advantage in that much of its expansion benefits from very strong Chinese government support for electric vehicles”commented to AFP Neil Saunders, director of Globaldata. “This helps boost domestic demand which, in turn, strengthens BYD’s position in the export market”, he noted. According to him, Tesla “remains a major player in the electric vehicle market” but the group “going to face a lot more competition from China this year”.
During the presentation of third quarter results on October 18, 2023, Tesla said it wanted to increase its production ” as fast as possible “. At the end of November, the group launched deliveries of its long-awaited Cybertruck, an electric pick-up with a futuristic silhouette which was unveiled in November 2019.
A company originally specializing in the design and manufacturing of batteries, BYD, which has more than 600,000 employees, has for its part launched its offensive in Europe in 2022 at the Paris Motor Show, hoping to conquer the market with its small SUV Atto 3 and the Dolphin sedan. Many foreign manufacturers (Tesla, BMW, Mercedes, Audi, Toyota, Ford, etc.) now depend on BYD for their batteries.