An unknown Chinese firm from Shenzhen’s southern tech hub has overthrown Elon Musk’s Tesla as the top seller of electric cars worldwide.
BYD sold 526,000 battery-only vehicles during the final three months of 2018, outselling Tesla by over 42,000. They also provide hybrid models.
Warren Buffett and Berkshire Hathaway are prominent investors who support this firm.
BYD Global sales
BYD is the world’s top electric vehicle maker in terms of sales volume and is also the number one plug-in manufacturer in China and the US; their presence is growing in Europe too.
BYD began as a manufacturer of rechargeable batteries before moving onto vehicle production, giving it an advantage over rivals that rely on third-party suppliers for batteries. Furthermore, its motor manufacturing operation saves money on more costly parts of a vehicle’s assembly.
They outpaced Tesla during the October-December quarter with sales of 526,409 electric vehicles sold, surpassing Tesla’s deliveries by more than 50k vehicles. BYD counts billionaire US investor Warren Buffett’s Berkshire Hathaway among its major shareholders and has expanded into new markets with various models ranging from small city hatchbacks to high-priced four-wheel-drive SUVs at affordable prices.
China
BYD, the Warren Buffett-backed pioneer of China’s electric vehicle industry, outsold Tesla worldwide during the third quarter with 525,409 new energy passenger cars (NEVs). Tesla had only sold 484,507 such vehicles.
China’s dynamic economy propelled BYD to record-setting sales despite its highly restrictive foreign investment environment. Top sellers included its small city car BYD Song and long-running plug-in EV model E6.
BYD hybrid vehicles, powered by both batteries and gas engines, have become increasingly popular as buyers seek ways to reduce carbon emissions while cutting costs simultaneously. BYD’s sales of over one million hybrids speaks to their growing popularity; consumers no longer believe solely battery-powered EVs are necessary.
Europe
China’s BYD, often dubbed the “China’s Tesla,” has been one of the fastest-growing EV manufacturers. Boasting presence across many European markets and being both car and battery producers.
Tesla batteries are superior in many respects; moreover, their production at scale makes the process efficient and timely. Their factory is located next to where these vehicles are produced so batteries can be produced at scale simultaneously in tandem.
EV Bus Company also boasts an impressive selection of EVs, from the X1 PHEV and Song EV models through to their unique EV buses, making them particularly appealing in Europe’s cost-conscious public transportation market where acceleration speed or range anxiety is less of an issue and fast chargers can be utilized more easily – an optimum way to reduce carbon emissions across European cities while simultaneously helping reduce their carbon footprints. Berkshire Hathaway owns a significant stake in this company owned by Warren Buffett’s Berkshire Hathaway owning an ownership stake is also owned by Warren Buffett’s Berkshire Hathaway who own a significant stake in their EV buses!
North America
BYD (Beyond Your Dreams), the Chinese carmaker known for producing electric vehicles, may not be well known among North Americans; yet its resources and infrastructure are impressive. BYD is a major player in this segment but has managed to sidestep publicity blitz associated with green campaigns while quietly increasing sales.
BYD made its breakthrough with the launch of its F3DM model in 2008. That model attracted one of the world’s wealthiest investors – U.S. billionaire Warren Buffett – who became interested in investing in BYD at that time and still holds significant shares today.
Today, BYD is a major producer of fully electric and plug-in hybrid cars powered by electricity produced at its massive Chinese factories. Additionally, it produces electric buses, forklifts, utility vans, street sweepers and street sweeping rakes with lithium-ion battery technology developed within its facilities – its aim being to lead the transition away from fossil fuels towards electrified transportation solutions as soon as possible.
