South Korean media: Tesla is no longer the No. 1 pure electric vehicle company!

On April 27, a South Korean media outlet, "Green Economy," published an article stating that Tesla will lose its position as the leader in the pure electric vehicle market for the first time this year. This is because its sales have been surpassed by BYD.

Last year, Tesla's total sales of pure electric vehicles reached 1,789,226 units, slightly ahead of BYD's 1,764,992 units, but the gap was not significant. This year, BYD has overtaken Tesla starting from the first quarter, and the sales lead will be reversed.

In the first quarter of this year, Tesla sold 336,681 vehicles. This figure is far below Wall Street analysts' expectations of 390,000 units, marking the lowest sales since the second quarter of 2022. Tesla's sales during the same period last year were 386,810 units, and the previous quarter's sales were 495,570 units.

On the other hand, BYD's sales of pure electric vehicles in the first quarter of this year reached 416,388 units, surpassing Tesla by about 80,000 units. In the fourth quarter of last year, BYD's sales were 595,413 units, which was about 100,000 units higher than Tesla's (495,570 units). The gap between BYD and Tesla is widening.

BYD's share is rapidly increasing thanks to its rapidly developing technology, diversified models, and competitive pricing. In addition to its own brand, BYD has launched approximately 20 different models through its high-end product lines, Wanglai and Denza.

In contrast, even including planned releases, Tesla only has 7 models.

Moreover, the gap in electric vehicle technology between the two companies has significantly narrowed. Although BYD uses cost-effective lithium iron phosphate batteries, its performance has greatly improved, with a range exceeding 400 kilometers. Its self-developed fast charging system has also reached a level comparable to Tesla's.

Research firm Counterpoint believes that BYD's advantage lies in its vertically integrated technology. Analysis suggests that what distinguishes it from other brands is that it has the research and production capabilities for all products, from battery manufacturing to pure electric vehicles, plug-in hybrid electric vehicles, chargers, and more.

Original source: https://www.toutiao.com/article/1830542696551882/

Disclaimer: The article represents the views of the author alone.