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| China's BYD overtakes Tesla in electric car sales |
By the end of 2023, BYD has become the world's largest electric car company, surpassing Tesla. However, as of the whole year 2023, Musk's Tesla sales are higher.
Tesla said on Tuesday it delivered a record 484,500 electric vehicles in the last three months of 2023 and 1080,000 vehicles for the full year.
Tesla's year-end business was better than analysts expected. Year-end sales were 20 percent higher than the same period in 2022. In addition, the speed has also increased compared to the beginning of 2023.
According to CNN data, the Chinese company sold a record number of vehicles in the three months to December 31, including 525,409 electric vehicles (BEVs).
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| China's BYD overtakes Tesla in electric car sales |
However, Elon Musk said in January that Tesla would deliver two million vehicles by 2023. Tesla has already reduced the price of the car several times to attract buyers. BYD's milestone achievement is linked to the challenges facing electric vehicle industry pioneer Tesla. Many believe BYD's rise is indicative of how competitive the electric vehicle market is becoming.
Throughout the year, Shenzhen-based BYD sold more than three million New Energy Vehicles (NEVs), including battery-only and hybrid vehicles. 1.6 million of the total cars they sold this year were battery-powered only.
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