TECH - BYD Ended 2023 By Surpassing The EV King In Battery-Only EV Sales For The First Time | Benzinga
BYD Company Limited (OTC: BYDDY) ended 2023 by beating the EV king, Tesla Inc (NASDAQ: TSLA). On the first day of 2024, BYD revealed it made more than 3 million new EVs. Tesla released its full year figures the following day, revealing that although its fourth quarter deliveries topped estimates, Tesla fell behind its main Chinese rival for the first time.
Competition Is Heating Up
Before 2023 came to an end, Chinese smartphone maker Xiaomi Corporation (OTC: XIACY) announced it is entering the EV field, with its electric contender directly challenging Tesla and Porsche. Also, startups like Li Auto Inc (NASDAQ: LI) reported its monthly record high in deliveries. In December, Li Auto delivered more than 50,000 vehicles, making a total of 376,030 vehicles for the full year. These figures imply Li Auto reported a delivery YoY growth of 182% YoY. Also, Li Auto remains on track to launch its first only battery-powered vehicle on March 1st.
XPeng Inc (NYSE: XPEV) kicked off the new year ...