Move Over Tesla! Warren Buffet-Backed BYD Becomes the World’s Leading EV Seller
It appears that Tesla (NASDAQ: TSLA) is no longer the biggest seller of electric vehicles in the world, after Chinese automaker BYD surpassed its American counterpart this year.
According to the latest company filings, BYD, which is backed by billionaire investor Warren Buffet, sold 638,157 electric and hybrid cars in the first half of 2022, marking a staggering 325% increase compared to the same period one year ago. In fact, the Chinese-based company delivered a total of 133,762 units in just June alone.
Tesla, meanwhile, sold a total of 564,743 vehicles in the first six months of this year, as per the company’s first and second quarter filings. The American EV maker blamed the slump in deliveries on a number of reasons, namely being supply chain disruptions and factory shutdowns in Shanghai over the past 12 months.
Information for this briefing was found via BYD and Tesla. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
