BYD Surpasses Tesla in a Bid to Become the Largest EV Manufacturer

Tesla is the pioneer of electric vehicles in the world. Tesla released its first EV back in 2008 and since then it has made tremendous development in the field both in terms of efficiency and durability. For instance, the new Tesla Model S has the fastest acceleration in the world and more than all other gasoline hypercars. The EV can go from 0-60 mph in just 1.9 seconds which is incredible. However, you will be shocked to know that Elon Musk’s Tesla is now the second-largest manufacturer of electric automobiles after Chinese competitor BYD overtook it.

Warren Buffet’s Berkshire Hathaway has major shares in BYD which has contributed to its success. Furthermore, it has surpassed LG to become the world’s second-largest maker of EV batteries. Owning factories that are unlikely to be affected by lockdowns and a plentiful supply of batteries prove to b a potent combo.

BYD Surpasses Tesla in a Bid to Become the Largest EV Manufacturer

As per a source, during the first half of 2022, Tesla managed to sell 564,000 automobiles. However, sales for Shenzhen-based BYD increased by 300 percent to 641,000 units. Musk probably won’t be too unhappy as Tesla lost its dominance in the EV market.

Several EV manufacturers, including Tesla, Li Auto, Xpeng, and Nio, were affected by recent lockdowns in China, particularly in Shanghai. However, the majority of BYD’s plants are located in locations that did not experience prolonged lockdowns, therefore manufacturing continued unabated. So, we are uncertain if Tesla can recover the top spot, but the business did sell 936,172 vehicles in 2021.

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