Tesla is no longer the world's largest EV producer

[NoleATL]

Chinese automaker BYD, which is backed by Warren Buffett, has surpassed Tesla as the world's leading electric vehicle seller.

Driving the news: BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022, according to company filings published on July 3.

• The figure represents a nearly 325% year-on-year increase from the same period last year.
• In June alone, BYD sold 133,762 electric or plug-in hybrid passenger vehicles.
• In the first two quarters of 2022, BYD sold 323,519 battery electric vehicles and 314,638 plug-in hybrids.

The big picture: Tesla, on the other hand, delivered a total of 564,743 vehicles in the first six months of the year, according to figures in their first and second quarter reports.

• Tesla noted in the reports that it had contended with supply chain challenges and factory shutdowns over the course of the year.
• BYD's shares have risen 36% since January and the company was able to avoid the lockdown-spurred factory closures, Business Insider reported.
• Tesla, however, was forced to temporarily close its factory in Shanghai during a COVID-19 outbreak in the city earlier this year.

Why China's BYD is a threat to Tesla's EV dominance

Tesla noted in its quarterly reports that it had been forced to contend with supply chain issues and factory shutdowns.

www.axios.com

 

[JupiterHawk]

Seems to be planning more infrastructure products in the US

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[InsaneHawkJJP]

Competition is a good thing. Hopefully some other US automakers will join the trend soon. Unfortunately, it’s probably too little too late.

 

[thewop]

So Tesla is competing with a Chinese company while also relying on Chinese companies ad suppliers. Chinese companies that are owned by the chinese government.

Somehow the Chinese automaker avoided the shutdowns while Tesla could not...

We need to make it ourselves or find a new China to exploit, the old one isn't going to cut it.

 

[binsfeldcyhawk2]

Competition is a good thing. Hopefully some other US automakers will join the trend soon. Unfortunately, it’s probably too little too late.

Rather it not be Chinese competition.

 

[Hawki97]

Hopefully they’re better than the mass produced Chinese eBikes that are flooding the market. Those things are absolute pieces of shit.

 

[HawkeyeShawn]

I don’t care if the vehicle is free and runs on air, fvck China. I only have 0-50 years left on this planet, I can guarantee you I will never buy an EV from China.