Tesla loses its status as the world’s largest EV maker
As BYD overtakes Tesla to become the world’s leading EV producer, electric vehicle adoption becomes the ultimate winner.
Tesla is no longer the world’s largest EV producer. That title now belongs to BYD, a Chinese automaker backed by the famous investor, Warren Buffet.
According to company filings, BYD sold 76, 607 more EVs than Tesla in the first half of 2022. However, 314, 638 vehicles out of BYD’s sales are plug-in hybrid EVs.
Plug-in hybrid EVs are hybrid electric vehicles that have a battery pack as well as an internal combustion engine generator.
Tesla’s Shanghai factory shutdown and supply chain woes affected its Q2 production output and sales. This, coupled with increasing EV adoption in China has allowed BYD to become the number one EV manufacturer.
Top EV Producers’ production and sales volumes
According to separate production reports filed by BYD and Tesla:
- BYD produced a total of 134,497 EVs in June 2022 alone. This is made up of 68,195 battery EVs and 66, 302 plug-in hybrid EVs.
- BYD sold a total of 133,762 EVs in June 2022, made up of 69,544 battery EVs and 64,218 plug-in hybrids.
- Tesla, on the other hand, produced 258,580 battery EVs in June 2022 alone.
- Tesla sold a total of 254,695 units in June 2022.
BYD is helping to drive EV adoption via its plug-in hybrid cars. Its filing report clearly indicates that consumers are ditching legacy automobiles in favor of EVs. The company’s Qin Plus PHEV sold over 111,000 units in 2021.
Will Tesla bounce back as the top EV producer?
For years, Tesla has held the number one spot as the world’s largest EV maker. This June alone, Tesla produced 258,580 cars making it its highest vehicle production month ever.
Once all its Gigafactories are back to full capacity, Tesla will likely give BYD a run for its money. Regardless of who wins, in the end, EV adoption is all that matters.
With new features like auto-adjustable suspension and CarPlay for Android integration, Tesla is also doing its part to encourage EV ownership.
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