Here’s why BYD didn’t overtake Tesla as the largest EV manufacturer

Written by Cláudio Afonso | | LinkedIn | Twitter

The Chinese automaker BYD reported on Sunday that sold a total of 641,350 vehicles in the first half of 2022, up 314.9% from the same period of 2021. In the same period, Tesla sold 564,000 units but the reports from early Tuesday claiming that BYD became the world’s largest EV manufacturer were not precise.

In fact, from the 641,350 new energy vehicles reported, only 323,519 BYD units were fully electric vehicles, nearly 50.5% from the sales figures. In the same period, Tesla sold 564,000 electric vehicles maintaining its throne as the world’s largest EV manufacturer.

In June, the automaker announced the delivery of 134,771 new energy vehicles (NEV), a 247.4% increase when compared to June 2021. In its investor conference call, BYD targeted to sell between 1.1 and 1.2 million new energy vehicles this year, including 600,000 pure electric vehicles and 500,000 to 600,000 plug-in hybrid vehicles.

In early April, BYD was the first automaker to stop producing oil-fuel vehicles adjusting its strategy:

“To align with the requirements of the Company’s strategic development, the company has stopped the production of Oil-fueled vehicles since March 2022. In the future, in terms of automobile business segment, the Company will focus on the businesses of Battery Electric vehicles and Plug-in Hybrid electric vehicles.

Meanwhile, BYD continues to produce and supply the components of oil-fueled vehicles, so as “to continuously provide comprehensive services and after sale guarantees to the existing customers of Oil-fueled vehicles,” the company stated.

Written by Cláudio Afonso | | LinkedIn | Twitter