Chinese car giant BYD has overtaken Tesla to become the world’s top seller of electric vehicles (EVs), according to Drive.
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In the fourth quarter of 2023, BYD overtook Tesla for the first time, with 526,409 sales against Tesla’s 484,000-plus reported sales.
Sales of BYD EVs increased by 73% last year compared to 38% growth for Tesla.
The Chinese carmaker celebrated its 5 millionth EV rolling off the production line in August last year, and the company is now ranked among the top 10 selling carmakers globally.
Over the past 18 months the carmaker has introduced dozens of new models in comparison to Tesla launching just one new model in 2023, the Cybertruck pick-up, which is two years behind schedule.
Despite this, Tesla is still leading BYD in Australian EV sales. According to Drive, in 2023 Tesla reported 43,924 deliveries in Australia compared to 10,975 for BYD.
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BYD was founded by Wang Chuanfu in February 1995. The company has several major subsidiaries: BYD Auto, which produces hybrid and electric vehicles; BYD Electronic, which produces electronic parts and assembly; and FinDreams, which produces automotive components.
