BYD Overtakes Tesla To Become World’s Top EV Maker

BYD is now the new world’s top electric vehicle (EV) manufacturer. The Chinese company sold 42,000 more EVs than Tesla to achieve this feat. The manufacturer’s broader and more affordable line-up has been touted as the primary reason why it managed to sell more EVs than Tesla. 

Although Tesla delivered more vehicles in the fourth quarter at 4,84,507 units, it was still not enough for the Elon Musk-led company to stay ahead of BYD who have retailed 5,26,409 units in the same timeline.

However, not all is gloomy for the California-based manufacturer. Tesla retailed 1.8 million vehicles in 2023, but, this feat came up short against Musk’s claim a year ago when he said Tesla would sell over two million vehicles. However, a series of price cuts failed to garner enough demand to support that output. 

Regarding  Tesla’s entry into India, there have been several reports speculating that officials representing the EV company have been in talks with Indian government officials to set up a plant in India. However, this discussion is yet to conclude as they are yet to come to terms with tax concessions and rebates. 

BYD, on the other hand, has already commenced business in India, and the EV brand currently retails two models, the Atto 3 and e6. The brand is also working on launching the Seal electric sedan in India later this year. Currently, the e6 is the brand’s entry-level model priced from ₹29.15 lakh, and the Atto 3 slots in as the flagship model priced at ₹33.99 lakh (ex-showroom, India).