The first vehicle, a Qin Plus DM-i sedan, rolled off the assembly line on June 30 at BYD’s new factory in Changfeng County, Hefei City, Anhui Province. China. (Beautiful pictures)
Internet searches for BYD by the Chinese automaker backed by Warren Buffett have been hot and multiple this morning, based on several reports that BYD has outsold. Tesla to become “the top of the world tram seller.”
We threw quotes around that phrase, because it’s a misspelling that needs to be cleared up. However, BYD is going strong.
According to company profile On Sunday, Shenzhen-based BYD sold 641,350 “new energy vehicles” in the first six months of 2022 – up 315% from the same period in 2021, when automakers were still new to exporting appeared after the pandemic raged.
Note that the second set of quotes. BYD does not strictly sell battery-powered vehicles, so the term “new energy vehicles” also applies to crossbred. Of BYD’s total sales, there are 323,519 pure electric vehicles.
Tesla, for comparison, delivered 564,743 vehicles in the first half of the year. And Tesla, as you know, only sells pure electricity. So it’s still at the top of the EV race.
But we’ll say it again: BYD is going strong.
BYD stock goes up 36% since January, with a market capitalization of about $149 billion – Tesla’s stock in the same period also fell 36%. And BYD, China’s largest domestic carmaker, is getting a big boost from the Chinese government pushing to cut its carbon footprint. emissions.
The Covid shutdown at Tesla’s Shanghai plant slowed production output in Q2, but BYD’s factories are mostly not in Covid hotspots, so it’s been running out of cars while Tesla shut down for 22 days of downtime. Tesla’s Shanghai Gigafactory Co., Ltd. produces half of Tesla’s total automobile production. And Tesla is struggling with supply chain problems like so many other automakers and hit some stumbling blocks on that front when their Shanghai Gigafactory restarted.
