Korean media: Tesla's sales in Europe fall by 40%, and BYD fills the gap!

On April 14, South Korean media "Asiae" published an article stating that Tesla's sales in Europe have plummeted sharply. On the other hand, BYD, China's largest electric vehicle manufacturer, surpassed Tesla for the first time last year to become the company with the highest global electric vehicle sales.

According to data from the European Automobile Manufacturers Association, Tesla sold 16,888 vehicles in Europe in February, a decrease of 40.1% compared to the same period last year (28,182 units). From January to February this year, Tesla's sales in Europe fell by 42.6%.

The market share of pure electric vehicles in Europe increased by 26.1% year-on-year in February, but Tesla's share during this period was 10.3%, halving from 21.6% last February.

The decline in sales in Germany was the most severe. In February, the number of new Tesla car registrations in Germany dropped by 76% year-on-year.

The opposition movement against the expansion of Tesla's factory in a suburb of Berlin, the capital of Germany, has had an impact. Local residents are concerned that the expansion of the factory may have a negative impact on water resources.

While Tesla is stagnating, Chinese electric vehicle manufacturers such as BYD have seized the opportunity. Recently, BYD announced that its sales of pure electric vehicles and hybrid vehicles surged by 40% last year, and its revenue increased by 29% year-on-year to RMB 777.1 billion. This is the highest record in history. Net profit was approximately RMB 40.2 billion, up 34% year-on-year.

BYD's introduction of a fast charging system shocked the global automotive industry. The system significantly improves battery charging time and driving range, which have always been considered the biggest weaknesses of electric vehicles. With a charge of only 5 minutes, it can travel 400 kilometers, far exceeding the performance of Tesla's supercharging system, which can travel 320 kilometers after 15 minutes of charging. BYD is promoting the establishment of its third new European factory in Germany, following Hungary and Turkey, to fill the void left by Tesla.

Source: https://www.toutiao.com/article/1829362940453888/

Disclaimer: This article represents the personal views of the author.