BYD Delivers Over 3 Million Electrified Vehicles In 2023, Beats Tesla In Q4 EV Sales
In 2023, Chinese automaker BYD outsold Tesla to become the largest manufacturer of new energy vehicles, which include electric, hybrid, and hydrogen drivetrains. BYD sold over three million vehicles, with 1.57 million being electric vehicles (EVs) and 1.4 million being plug-in hybrids. Despite this, Tesla remained the leader in EV sales, selling 1.8 million units. BYD’s success can be attributed to its rapidly growing exports, with the company seeing a 334% increase in foreign sales compared to the previous year, selling 242,765 vehicles across 70 countries. Despite this success, BYD’s shares value fell slightly as its sales were below market expectations.
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