INSUBCONTINENT EXCLUSIVE:
BYD is nearing Tesla in the global electric car market, nearly outpacing them last quarter
During that period, Tesla experienced its first drop in sales in a year.BYD sold 431,603 electric cars in the quarter ending September 30
This was a 23% rise from the previous quarter.In contrast, Tesla sold 435,059 cars
Taylor Ogan, CEO of Snow Bull Capital, predicts BYD will surpass Tesla in the next quarter.His company owns shares in both
automakers.Moreover, BYD set a new record, selling 822,094 vehicles, including hybrids
These cost around $137,000, which is more than double their earlier models.BYD Nears Tesla in Global Electric Car Sales
expansion.On the other hand, Tesla fell short by about 20,000 vehicles
The company was busy updating its Model 3 and preparing for the yet-to-be-released Cybertruck.For the year, Tesla aims to sell 1.8 million
Meanwhile, BYD is on track to sell about 3 million, counting hybrids.Background BYD Nears TeslaIn China, electric vehicles are gaining
The government strongly supports this shift with numerous incentives.Meanwhile, BYD leverages this support to grow its domestic market
share.Conversely, Tesla faces challenges such as plant shutdowns, affecting its local performance.Globally, electric cars are the future of
are also providing incentives for electric vehicle adoption.This creates a competitive environment for both BYD and Tesla.Tesla focuses on
the premium segment, while BYD has a wider range of offerings
Its innovations continue to set industry standards.Both companies will likely co-exist and compete, shaping the electric vehicle market for
