Tesla has been dominating the electric vehicle (EV) scene across the world and has led the way for several years now. Even in the fourth quarter of 2023, Tesla managed to deliver an impressive 484,507 vehicles. But this number was less than what China’s BYD delivered in the same time period. And yes, BYD is the same company that was laughed at by Elon Musk during a 2011 interview.
Headquartered in Shenzen, BYD has been taking mammoth strides in the world of electric cars and in the final quarter of 2023, delivered 526,409 vehicles across the globe. Not only was this higher than what Tesla had delivered but higher by a significant margin. Pressing down on Tesla’s pain point, BYD also manufactured more vehicles in the fourth quarter than the Musk-led company did.
Interestingly, BYD also manufactures hybrid vehicles while Tesla only offers fully battery-powered models. But BYD’s lead comes taking into account sales of its battery-only models alone. It sold another 400,000 hybrid electric models in the final 2023 quarter.
BYD vs Tesla: The biggest battle in world of EVs
Tesla enjoys a cult status in many markets where it offers its EVs. Led by Musk, the world’s wealthiest person at present, the company has managed to leave established auto brands far behind even though it still is only present in a handful of markets. Its major markets are China, the US and western European countries.
BYD, on the other hand, is the biggest player in the Chinese EV scene and has started to expand its footprint to European markets as well. Established in 1995 as a battery-manufacturing company, BYD started manufacturing cars in 2023. But it is its strategy to have only fully electric and hybrid models, a decision taken in March of 2022, helped it pool in all its efforts towards these new-energy vehicles.