If BYD, the world number 2 in electric cars, already markets several 100% electric models in France, the Chinese firm will also sell plug-in hybrid cars. A strategy that should allow it to overtake Tesla once and for all.
If Tesla currently remains the number 1 electric company in the world, the American firm has every interest in not resting on its laurels. And for good reason, specialists already affirmed last year that the company was going to be seriously disrupted by the Chinese. And that is precisely what is happening.
A new strategy
Indeed, Elon Musk must pay close attention to his rival BYD, which is becoming more and more important in the electric market. So much so that it is in 2nd position in the ranking of the biggest sellers in the world, and that it is on the way to overtaking Tesla. This is thanks in particular to very low prices, which are due to production costs significantly lower than those of its competitor based in the United States.
And the war between the two rivals is expected to intensify, with BYD planning a decisive price battle as early as next year. Suffice it to say that brands have every interest in working extra hard to hope to reach or maintain first place. And BYD already has a ready-made strategy for this. And for good reason, BYD will expand its range in Europe.
If the manufacturer recently lifted the veil on its Sea Lion 07, it is in another market that it now wants to make a place for itself. And for good reason, the brand plans to sell plug-in hybrid cars on the Old Continent. Information recently confirmed at Frandroid by a spokesperson for the brand, who indicates that a PHEV offer will be offered, normally by the end of the first half of 2024 and particularly in France.
What is the point of this maneuver, when the sale of this engine will be banned throughout Europe from 20235 and it is not really environmentally friendly? Well this should simply allow BYD to move ahead of Tesla on sales figureswhich as a reminder only sells electric cars in its range.
Temporary sales?
And actually, it’s not stupid, since it already works. Indeed, looking at the figures from the specialist firm TrendForce, we realize that BYD is currently the 4th largest manufacturer in the world in terms of sales of all engines combined. So much so that it even surpasses Hyundai and is positioned just behind Ford, with a market share of 4.7%. Tesla, for its part, is not even part of the ranking.
But how is this possible? And indeed, it’s thanks to plug-in hybrid cars, which are also taken into account when calculating sales. Thus, BYD sold no less than 1.5 million electrified cars between January and July last year, including PHEVs. Outside of China, the brand delivered 92,469 cars, again all electrified engines combined.
But in Europe, BYD is still very far away in the rankings. The sale of plug-in hybrid cars could help the company rise to the top positions more quickly in the years to come.
For his part, Tesla hopes to sell 1.8 million cars worldwide by the end of the year, a goal which should be achieved without too much difficulty. But his rival remains behind his heels and is now on the verge of overtaking him. Especially since it is also preparing the construction of a factory in Europe, which could allow it to continue to benefit from the ecological bonus.
For the moment, we do not yet know which plug-in hybrid cars will be offered by the brand here. However, this strategy may only be temporary, until the ban on the sale of thermal cars in Europe comes into force. Enough to allow it to get ahead of Tesla and develop its electric range on the Old Continent in parallel.
We imagine that this offer of plug-in hybrid cars will be aimed primarily at corporate fleets and rental companies, thanks to the advantageous taxation that still exists on these models for businesses.