BYD & Tesla's Ambitious EV Deliveries in 2023

BYD EV
Chinese Automaker BYD Is Leading World’s New Energy Revolution, as It Sold More Electric Vehicles Than Tesla in the Last Three Months of 2023

BYD has revealed that it sold 526,000 battery-only vehicles, in the final quarter of 2023, outrunning Tesla for the first time. 


BYD is leading the charge in new energy vehicles 

BYD is a high-tech enterprise, based in Shenzhen, China, which was established in 1995. BYD's Chief Executive Wang Chuanfu co-founded BYD with his cousin. The company is a leader in IT, automobile and new energy and is the biggest supplier of rechargeable batteries in the world. 

Across 2023, BYD sold over 3m ‘new energy vehicles’ (NEVs), such as battery-only vehicles and hybrids. The company has also confirmed that it will build a new factory in Szeged, Hungary, for the production of (NEVs), which will be sold in Europe. This is expected to create “thousands of local jobs, boosting the local economy and supporting local supply chains”. 

One of BYD’s sources of success is that it builds its own batteries, instead of using third-party manufacturers. Batteries are easily the most expensive part of an electric vehicle. It is this flexibility which BYD believes has supported its sales.

Youtube Placeholder

Tesla's ambitious 2023 deliveries for EVs

As these results show, BYD is leading the new energy revolution, yet for the whole of 2023, Tesla still sold more.

Tesla announced that it delivered a record of its own - selling 484,500 electric vehicles between October and December 2023, totaling 1.8m over the whole year. Despite reducing prices repeatedly, this still fell short of Tesla CEO Elon Musk’s prediction that Tesla could hit two million deliveries in 2023.

Musk might be more focused on driving X forward, despite dropping ad revenue. However, Musk made a prediction for Tesla’s future growth on X itself. 

“I stand by my prediction that, if Tesla executes extremely well over the next 5 years, that the long term value could exceed Apple and Aramco combined,” Musk posted on X. 

Apple’s market capitalisation sits at US$2.99trn, while oil and gas giant Aramco is at US$2.13trn. Tesla’s current market cap stands at $778.6bn. 

Since 2008, Warren Buffett's Berkshire Hathaway has been a shareholder of BYD, but Buffett has sold BYD shares repeatedly in recent years.

"We don't want to compete with Elon in a lot of things," Buffett explained, but it is thought that the investor is playing cautiously against the geopolitical tensions between China and Taiwan.


*********************************************

EV Magazine is dedicated to creating a global community of businesses, experts, and EV enthusiasts with comprehensive insights into automotive and the surrounding sectors.

For more EV insights check out the latest edition of EV Magazine and be sure to follow us on LinkedIn & Twitter.

You may also be interested in Sustainability Magazine and Energy Digital Magazine

*********************************************

BizClik is a global provider of B2B digital media platforms that cover Executive Communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.

BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.

Share

Featured Articles

Amazon 2024 Report: EV Fleet Expansion Milestone

Amazon's 2024 Sustainability Report highlights the deployment of 10,000+ electric delivery vans, advancing its commitment to net-zero carbon emissions

Panasonic Energy & University of Kansas Partner

Panasonic Energy & University of Kansas Partner on EV Battery Technology & Talent Development contributing to the US manufacturing sector & overall economy

IOTA & Eviden Launch Digital Passport Solution

IOTA & Eviden unveil the Eviden Digital Passport Solution, a DLT-based tool enhancing transparency and sustainability for EV batteries

ABTC Announces Major Sale of Recycled Battery Materials

Sustainability

Bridging the EV Maintenance Skills Gap

Technology

Nissan's Autonomous Mobility Services on Public Roads

Self Drive