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⚡ BYD Overtakes Tesla as the World's Largest EV Producer 2024 marked a seismic shift in the global electric vehicle (EV) market. BYD, a Chinese automaker that started as a battery producer in the 1990s, has officially outpaced Tesla in EV production. With 1,777,965 units produced—about 4,500 more than Tesla—BYD is solidifying its position as a global EV powerhouse. https://lnkd.in/ddrFwC2Y  Interesting insights to consider: 1. Tesla's annual sales declined for the first time ever due to a stale lineup and stiff competition. Its aging Model 3 and Model Y remain the mainstays, while the newly launched Cybertruck struggles to resonate with buyers. 2. BYD grew EV production by 12% and overall vehicle sales by 41%, reaching 4.27M units. Their lineup includes plug-in hybrids and affordable popular models like the BYD Seagull. 3. Government subsidies and relentless innovation have turned China into the world's top vehicle exporter. 2024 feels like the turning point for the EV race. With Tesla planning affordable new models in 2025, can it reclaim its crown? Only time will tell. Also, check out our articles on: * The Impact of Expert Networks on Innovation and R&D https://lnkd.in/dXY6M3ZS * Expert Networks Calls: Bridging the Knowledge Gap in Industries https://lnkd.in/dyVQBXvy #ElectricVehicles #EV #EVProduction #Tesla #BYD #GlobalTrends #2025 #China

After years of ruling the global electric vehicle market, Tesla has been dethroned by a new king: China’s BYD. In 2024, Tesla churned out 1,774,442 electric vehicles—just 4,500 shy of BYD’s 1,777,965. It’s like losing a race by the width of a bumper. While BYD briefly edged ahead in Q4 2023, Tesla reclaimed its lead for most of 2024. But in Q4, BYD came roaring back, outproducing Tesla by nearly 150,000 vehicles and claiming the title of world’s largest EV maker. Not long ago, many outside #China would have asked, “BY-who?” But Shenzhen-based BYD has gone from relative obscurity to global powerhouse, with its subsidiary, BYD Auto, taking the EV world by storm and expanding well beyond its home turf. BYD pulled off a turbocharged pivot from making internal combustion vehicles to what China calls “new energy vehicles”—battery electric and plug-in hybrids. The speed of its transformation? Blazing fast, rivaling even Tesla’s legendary scaling abilities. It seems Tesla finally met its match, and BYD isn’t slowing down anytime soon. #future #ev #electricvehicle #zukunft #Tesla #BYD #Engine #engineering

Elon Musk once mocked China’s BYD, but now it’s giving Tesla a run for its money! BYD overtook Tesla last year as the world’s top seller of electric vehicles and is now competing fiercely with Toyota. Their new hybrid powertrain boasts an incredible 1,300-mile range, far surpassing other hybrids on the market. Despite Tesla reclaiming the top spot in Q1, BYD is surging ahead globally, especially in China, the world’s largest auto market. Their affordable cars, starting at around £11,000, are outpacing competitors like the Toyota Prius. Elon Musk, who once laughed at BYD's cars, recently acknowledged the threat posed by Chinese EV makers. BYD’s ability to produce both EVs and hybrids gives them an edge, especially as the US struggles with EV infrastructure. With their Hong Kong shares up 5%, BYD’s rise is a reminder that innovation and affordability can quickly shift the balance in the auto industry.

For about a decade, Tesla has been the world’s biggest EV producer, making its luxury vehicles the most ubiquitous electric cars on the road. But now a very different type of car, made in China and selling for as little as $10,000, is vying for the top spot. China’s BYD, which makes more than a dozen models of all-electric sedans, SUVs and minivans, built more electric cars than Tesla last year, the first time it has done so. BYD’s rise is a sign of the growing dominance of Chinese electric car companies, which have benefited from generous government subsidies, China’s focus on battery manufacturing and mining, and a state-backed push to build the world’s biggest network of charging stations. That has implications for the climate. Lower prices make EVs accessible to more people, accelerating the global transition from gas to electric vehicles. BYD sells its cars mostly in China, the world’s biggest car market, but it’s also trying to expand abroad. https://lnkd.in/e8gV-KfM

🚗💥 BYD Company, Tesla’s rival, reported a 21% increase in Q2 electric vehicle sales, reaching 426,039 units, just 12,000 fewer than Tesla's. Tesla is expected to announce a 6% decline in Q2 deliveries due to fierce competition in China and lower demand for older models. In May, new energy vehicles made up 46.7% of total car sales in China, setting a new record! 🌟 Stay tuned for more at tradezing.com #BYD #Tesla #Nio #ElectricVehicles #EV #Innovation #AutomotiveIndustry #MarketTrends #TradeZing

Mapped: Where Tesla and BYD Make Their #Cars (by Visual Capitalist) In 2023, #Tesla and #BYD were the world’s two largest #electricvehicle (EV) companies by a large margin, holding 19.9% and 17.1% market shares respectively. With no other company able to match their scale, these two automakers have found themselves locked in a competition for the global #EV crown. In Q4 2023, BYD outsold Tesla for the first time ever by 41,000 vehicles (526,000 vs 485,000). In Q1 2024, however, their positions were switched after Tesla outsold BYD by 87,000 #vehicles (387,000 vs 300,000). To gain insight into this rivalry, we’ve visualized the locations of both companies’ present and future EV factories, along with their estimated maximum annual output. Figures come from a variety of sources, and represent the latest information pertaining to planned production facilities (as of April 2024). A big thank you again to Marcus Lu and Visual Capitalist for the full article with more background and insights via the link below 💡🙏👇 https://lnkd.in/eKipZYfX #semiconductorindustry #semiconductors #semiconductor #technology #tech #automotiveindustry #chips #chip #automotivetechnology #auto #geopolitics #usa #china #germany #japan #france #italy

BYD, the Warren Buffett-backed carmaker, overtook Tesla last year as the world’s top seller of electric vehicles and is now competing fiercely with Toyota. Their new hybrid powertrain boasts an incredible 1,300-mile range, far surpassing other hybrids on the market. 🚘🌍 Despite Tesla reclaiming the top spot in Q1, BYD is surging ahead globally, especially in China, the world’s largest auto market. Their affordable sedans, starting at around $14,000, are outpacing competitors like the Toyota Prius. 📈🇨🇳 Elon Musk, who once laughed at BYD's cars, recently acknowledged the threat posed by Chinese EV makers. BYD’s ability to produce both EVs and hybrids gives them an edge, especially as the US struggles with EV infrastructure. ⛽🔋 With their Hong Kong shares up 5%, BYD’s rise is a reminder that innovation and affordability can quickly shift the balance in the auto industry. 🌟💡 #BYD #Tesla #ElectricVehicles #AutoIndustry #Innovation #elonmusk

🚗🔋 The EV Race: Tesla vs. BYD The electric vehicle (EV) industry is evolving rapidly, and competition is heating up! 🔥 According to recent data, Tesla and BYD are leading the charge (pun intended) in EV production, with both companies achieving record-breaking numbers. Highlights: ✅ Tesla produced approximately 1,773,443 vehicles, marking a 4% decrease from the previous year. ✅ BYD outpaced Tesla with 1.86 million EVs, a staggering 79% YoY growth, though this includes plug-in hybrids. ✅ These numbers reflect a major shift toward sustainable mobility and showcase the power of innovation in the automotive industry. 🌍💡 What does this mean for the future of EVs? Is BYD’s broader market strategy giving it an edge? Or will Tesla’s focus on fully electric vehicles and advanced technology maintain its leadership in the long term? Join the discussion below! #PimlicoPartners #ElectricVehicles #Tesla #BYD #Innovation #Sustainability #EVProduction

An Interesting read, BYD races to the top, now producing more EVs than Tesla! BYD Pulls Ahead of Tesla to Become Largest EV Maker While only a few people outside of China were familiar with BYD just a few years ago. The Shenzhen-based electronics and manufacturing giant rose to international fame in recent years, as its largest business unit/subsidiary BYD Auto became one of the largest makers of electric cars in the world and expanded beyond its home market. BYD has become the world's largest producer of pure electric cars, surpassing Tesla. In 2024, Tesla made 1,774,442 electric vehicles, shy of BYD’s 1,777,965. This change shows BYD's fast growth and strategic plans in the global EV market in a short period. Over the whole year, BYD sold about 1.768 million EVs, a 12% increase compared to the previous year. In contrast, Tesla's sales slipped to 1.79 million EVs, down 1.1% from last year, marking the first annual sales drop for Tesla in a decade. While that is an admittedly small decline of just 1.1 percent and Tesla shipped more cars than ever before in the fourth quarter, the drop from 38 percent growth in 2023 to a 1 percent decline is significant and might worry some shareholders, especially considering that Tesla is valued like a growth company, with a price-to-earnings ratio that can only be justified by strong future growth. As the competition between BYD and Tesla intensifies, it is expected to drive further advancements in the EV industry, providing consumers with more choices and improved technology! #BYD #Tesla #EV #ElectricVehicles #AutoIndustry *Source: Statista

Chinese Electric Vehicle Manufacturers Outpace Tesla in Innovation Race A report by the Information Technology & Innovation Foundation indicates that Chinese electric vehicle (EV) companies are rapidly outpacing Tesla in the innovation race. These companies are introducing new models at a much faster rate compared to their American counterparts. Chinese EV manufacturers have an average development cycle of just 1.3 years, in sharp contrast to the 4.2 years taken by US brands. This accelerated innovation has enabled companies like BYD to launch 19 new vehicles between 2017 and 2023, while Tesla has only introduced five. The report highlights that Chinese EVs are not only keeping up with but often surpassing the quality and innovation of offerings from Tesla and other European brands. This surge in innovation encompasses advancements in battery technology, vehicle design, and software. The think tank warns that US automakers, including Tesla, need to significantly boost their innovation efforts to remain competitive. Tesla has recently faced criticism for its aging vehicle lineup, with experts suggesting that this is impacting its sales. Despite the launch of the Cybertruck in 2023, Tesla has not updated several of its models in years, including the Model Y, for which there are still no refresh plans. Elon Musk has acknowledged the competitiveness of Chinese car companies and has spoken out against tariffs on Chinese vehicles earlier this year. # Thank you Ling Weiwei for your submission!