BYD recently launched the BYD Seal in Europe at the IAA auto show in Munich, Germany. The electric sedan has a starting price of 44,900 euros ($48,479). The company said Monday it produced more than 3 million new energy vehicles in 2023. This puts them on track to surpass Tesla’s production for a second straight year.
The U.S. electric car company had yet to release full-year figures as of Tuesday in Asia. Tesla said it produced 1.35 million cars during the first three quarters of 2023.
In 2022, Tesla produced 1.37 million vehicles, fewer than BYD’s impressive output of 1.88 million units! New energy vehicles include battery-powered and hybrid models.
Most of BYD’s cars sell at lower prices than Tesla’s and come with hybrid versions that give you the best bang for your buck! Elon Musk’s automaker only sells purely battery-powered cars – talk about being exclusive!
China accounted for about one-fifth of Tesla’s sales in the quarter ended Sept.30th – so China is kind of like their biggest fan!
BYD shares fell by over two percent on Hong Kong tradingSponsored Product Tuesday morning – but hey, who doesn’t have an off day?
Competition heats up
Companies wanting a slice of China’s fast-growing electric car market have flooded this space with new models that are sure to get motors revving! Chinese smartphone maker Xiaomi last week detailed its plans to launch an EV to compete with Porsche and Tesla- now that’s some serious competition right there!
Li Auto whose monthly deliveries have surged wants partake too – they’re set to launch their first purely battery-powered vehicle called MEGA soon enough! They initially projected late February deliveries but now we’re looking at March because let’s face it – good things take time!
Xpeng launched its X9 MPV on Monday and Huawei’s new energy vehicle brand Aito announced orders for its M9 SUV which surpassed over thirty thousand just seven days since its launch – talk about making an entrance into this competitive market huh? Zeekr backed by Geely also started delivering their latest model; looks like everyone wants a piece from this pie!
Several Chinese electric car players including Nio and BYD are pushing into markets outside China especially Europe where they believe they can make waves (pun intended).
Nomura China autos analyst Joel Ying believes moving overseas will help these leading carmakers achieve success globally because shipping vehicles manufactured solely in China just won’t cut it anymore- sometimes you gotta go big or go home y’know?
Now wasn’t that electrifying? Stay tuned as we bring you all things quirky from around the world!