Based on the results of the fourth quarter of 2023
Updated: at the end of the year, Tesla retained its leadership.
In the final quarter of 2023, BYD sold 526,409 all-electric vehicles worldwide, dethroning Tesla as the leading EV maker as the US automaker delivered 484,507 vehicles. Both companies achieved their annual goals: BYD exceeded the 3 million mark in 2023 (including hybrids), and Tesla — about 1.8 million cars.
BYD posted a record fourth quarter, selling 942,651 vehicles. 55% were all-electric (BEV) and 45% — plug-in hybrids (PHEVs). The company ceased production of internal combustion engine vehicles in April 2022.
The Shenzhen-based automaker sold 3,023,679 electric vehicles in 2023, up 62% from 2022. About 52% were BEV – 1,574,804. Tesla delivered 1,808,581 electric vehicles in 2023, up 38% from 1,313,851 vehicles the previous year.
In 2023, BYD founded two new electric vehicle brands — YangWang and Fang Cheng Bao, which use a direct sales model and have their own sales network. BYD has also begun investing in its own ADAS and autonomous driving systems, abandoning its agreement with Baidu Apollo.
In 2023, Fang Cheng Bao opened 120 showrooms and direct service stores in 40 cities, and YangWang — 90 stores in 40 cities.