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BYD Surpasses Tesla in Global EV and Hybrid Sales

The Chinese automaker's aggressive expansion and innovation challenge Tesla's long-standing dominance in the electric vehicle market.

A rear view of the BYD Yangwang U9 electric car in Shenzhen, China, earlier this year.
A BYD Co. Yangwang U9 electric vehicle in Shenzhen, China, on Tuesday, Jan. 16, 2024. BYD debuted its most expensive car on Sunday, a 1.68 million yuan ($233,450) high-performance fully-electric supercar pitted against luxury gas-guzzling options offered by rivals such as Ferrari NV and Lamborghini.
Image
Tesla Model Y at a Supercharger.

Overview

  • BYD overtakes Tesla in global sales of electric vehicles and hybrids, signaling a shift in the EV market.
  • BYD's aggressive expansion and vertical integration strategy pose a significant challenge to Tesla's dominance.
  • The Chinese automaker's entry into the U.S. market could be facilitated by its global manufacturing footprint and government subsidies.
  • BYD launches the Yangwang U9 electric supercar, showcasing its technological prowess and ambition to compete in the luxury EV segment.
  • Experts predict a competitive future for the EV market, with BYD's growth and innovation challenging established players like Tesla.