South Korean media: Tesla falls from grace, global electric vehicle reshuffle, and China's fleet rises strongly! On May 5th, South Korean media "Maeil Business Newspaper" published an article stating, which company is the top in the global electric vehicle industry? I believe many people would think of Tesla. In fact, this is not entirely wrong. From the perspective of company size, reputation, and technology level, Tesla can be recognized as the first company. However, in terms of sales volume, Tesla is currently the second-ranked company. Last year, BYD's sales volume far exceeded that of Tesla. Judging from the recent global market atmosphere, BYD's situation is better. Chinese enterprises are not only occupying the top position in electric vehicle sales. In fact, Chinese enterprises are leading the world's electric vehicle market. In terms of sales, sales volume, and technological level, Chinese electric vehicle enterprises are beginning to take the lead. BYD's sales revenue was 106.9 billion US dollars last year, an increase of 29.0% year-on-year. This figure is nearly 10% higher than Tesla's 97.7 billion US dollars last year. This is the first time that BYD's annual sales revenue has surpassed Tesla's. BYD increased its sales volume in China and successfully seized the top spot. In addition to pure electric vehicles, it also sold a large number of plug-in hybrid vehicles, achieving good performance. The rapid growth of the Chinese electric vehicle market has played a significant role in BYD's rapid growth. About 90% of BYD's products are sold in the domestic Chinese market. In the first quarter of this year, BYD's upward momentum continued. BYD's sales volume in the first quarter reached 1.008 million units, an increase of 59.8% year-on-year. BYD is also actively targeting overseas markets. Its overseas sales volume increased by 111% year-on-year in the first quarter, reaching 206,084 units. Not only BYD, which ranks first, but also companies like Geely, Changan, and Ideal have already taken the lead in the global electric vehicle market. Moreover, thanks to the huge Chinese market, new competitive companies continue to emerge. Xiaomi, mainly known for producing smartphones and electronics, launched its first electric vehicle "SU7" last April and achieved an annual delivery target of 130,000 units. It set a new monthly sales record in March and is expected to exceed 350,000 units this year. This is indeed very rapid growth. While Chinese electric vehicle enterprises are growing rapidly, Tesla, which has long been at the forefront of the electric vehicle industry, is struggling. First of all, conquering the world's largest electric vehicle market in China seems to be becoming increasingly difficult. This is because competitors like Xiaomi are launching advanced-functioned and more affordable electric vehicles. In the first quarter of this year, the number of cars delivered by Tesla's Chinese factory to customers decreased by 22% compared to the same period last year. The total number was 172,754 units, the lowest level since the second quarter of 2022. Tesla is also facing difficulties in markets outside of China. Especially in Europe, Tesla's electric vehicle sales in France, the Netherlands, Sweden, and Denmark fell by 41.1%, 49.7%, 55.3%, and 55.3% respectively in the first quarter of this year. While Tesla is struggling in the European market, Chinese electric vehicle enterprises are gradually capturing market share. [Image: //p3-sign.toutiaoimg.com/tos-cn-i-ezhpy3drpa/9fdf2e5ab0a340c9b67a9e31235c6480~tplv-obj:1920:1080.image?_iz=97245&bid=15&from=post&gid=1831274675276809&lk3s=06827d14&x-expires=1754179200&x-signature=XvqgYCtx2%2FYV1qgBXYnxFbyq1hA%3D] Original source: https://www.toutiao.com/article/1831274675276809/ Disclaimer: This article represents the views of the author alone.