Tesla (TSLA) is no longer the world’s biggest electric vehicle maker as the EV pioneer takes a backseat to BYD (OTCPK:BYDDY). The Chinese automaker, which is backed by Warren Buffett, sold 641,350 new energy vehicles in the first six months of 2022, representing a 315% increase from the same period last year. Tesla, on the other hand, only delivered a total of 564,743 vehicles in H1 as it contended with supply chain problems, factory lockdowns and sales disruptions in China.
Fine print: BYD’s figures include electric and plug-in hybrid vehicles, while Tesla’s only include battery electric cars (it doesn’t produce a hybrid). The numbers still highlight the trajectory of BYD’s growth, compared to the Elon Musk-run company, which just snapped a two-year streak as deliveries fell 18% last quarter. The developments have also been highlighted in their stock prices, with shares of BYD climbing 15% since the start of the year and Tesla tumbling 42% YTD.”
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