BYD Inching Closer to Dethrone Tesla as World’s Largest EV Maker

BYD of China is poised to dethrone Tesla as the world’s largest EV maker as its global sales push gains greater traction. Besides, Tesla’s disappointing third-quarter deliveries are also giving its closest rival this landmark opportunity.

Both companies recently presented their Q3 sales data, as per which sold a total of 824,001 NEVs (which include plug-in hybrids), out of which 431,603 were pure electric vehicles (EVs), accounting for 52.4% of their total sales. In comparison, Tesla sold 435,059 cars in the same period, all pure EVs.

Related: Wall Street Analysts Evaluate BYD Seal, Say Tesla Should Worry

In a nutshell, BYD is just around 3,500 cars away from overtaking Tesla. This sales gap between the two companies is the closest since they started sharing information on EV deliveries, with BYD’s pure electric car sales reaching an amazing 99.21% of Tesla’s sales this quarter.

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Tesla’s sales for the most recent quarter climbed by 26.5% year over year but decreased by 6.7% from the preceding quarter, according to an analysis of sales growth tendencies of the two companies. In comparison, BYD pure electric vehicle sales climbed by 66.9% year on year and 22.6% month on month this quarter.

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Both companies have taken a worldwide approach, extending their presence in numerous locations. With their global expansion strategy in full swing, these two automotive behemoths are set to engage in more fierce global competition.

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