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TSLA: Tesla Loses Top Spot as World’s Biggest EV Seller After BYD Hands Over 526K Cars

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The race for electric vehicles just got more intense as Tesla’s Chinese rival bets on more affordable models.

  • Elon Musk’s Tesla TSLA has been dethroned from the top spot as the world’s biggest EV company by sales. China’s fast-rising BYD 1211recorded over 526,000 deliveries for the December quarter, eclipsing Tesla’s 484,000 unit sales. Tesla has been holding the top spot since 2012 when it introduced the Model S.
  • For the year, however, Tesla retained its crown by delivering a total of 1.8 million electric vehicles. BYD, on the other end, shipped roughly 1.6 million all-battery cars and over 3 million passenger cars. The lofty figure was achieved without even tapping into the US market.
  • By another measure – market value – Tesla is far superior, boasting an $800 billion valuation. BYD, which is backed by Warren Buffett and has been dismissed by Elon Musk in the past, has swelled to an $80 billion threat with its US-listed shares rising just 8% in 2023 against Tesla’s 120% share-price increase.

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