BYD BEV sales leapfrog Tesla’s in Q4

China-based new energy vehicle (NEV) manufacturer, BYD, says it enjoyed year-on-year growth of 61.8% in 2023 selling more than 3,024,417 units, of which more than 1.6 million were battery electric vehicles (BEV) and more than 1.4 million were hybrid vehicles. 

In the month of December 2023 alone, BYD says it enjoyed year-on-year growth of 45%, selling 341,043 new energy vehicles globally.

According to The Guardian, BYD overtook it USA-based competitor Tesla in the last quarter of 2023, selling 526,000 BEVs against the latter’s 484,000 BEVs.

Unlike BYD, Tesla exclusively makes battery electric vehicles and the company recently announced that it made 1.84 million cars in 2023, making it the global leader of that category for now.

In 2023, BYD saw its 6 millionth NEV rolled off the production line at the Zhengzhou factory on November 24, having celebrated its 5 millionth NEV three months earlier.

The 6 millionth BYD NEV was a BAO 5 hybrid-powered ladder-framed SUV, which is produced under the FANGCHENGBAO sub-brand.