Here's a great look at how Tesla and BYD, two EV giants, stack up in terms of current and planned global production capacity.
Some key takeaways:
1. Tesla produced 1.4M plug-in electric vehicles (BEV, PHEV, HEV) in 2023, while BYD produced 1.8M BEVs alone. However, Tesla's total output is estimated at 1.9M when including all vehicle types.
2. #China is poised to be an #EV powerhouse, with capacity to produce a staggering 3M+ vehicles annually (750k from Tesla's planned facilities, over 3M from BYD's, per the data). This dwarfs estimated capacity in other major auto markets like the U.S. and Germany.
3. BYD appears to be making aggressive investments in production capacity across China, Brazil and other markets to challenge Tesla's leadership position. The two companies are neck-and-neck currently.
This data paints a picture of an intensifying battle between these two pioneering EV makers, centered heavily around the crucial Chinese market.
As they scale up capacity and expand globally, it will be interesting to see how this competition unfolds and which emerges as the dominant player.
Follow us for more insights!
#sirotinventurs #technologytrends #electricvehicles
