Tesla Inc. remains the undisputed worldwide leader in electric car production, but it may be dethroned before the end of the year if BYD keeps ramping up the volumes, Bloomberg reports.
According to the publication, the gap between the two manufacturers has shrunk to a historical minimum and BYD is now on track to overtaking Tesla in Q4 2023. In the third quarter of the year, Elon Musk’s company has found owners for 435,059 – down 30,000 units or so from Q2. In contrast, the Chinese corporation has sold 431,603 EVs.
It is also worth noting that BYD is already coming well ahead of Tesla in terms of annual growth rates. While the North American company has barely managed to boost sales by 26.5% in 2023 compared to the year before, BYD has managed to increase them by 67%.