A major shift occurred in the electric vehicle (EV) market in Q42023, as BYD Company Limited overtook Tesla in global EV sales and emerged at the top of the chart. BYD, new to the crown, had many key elements aligned that contributed to its rise. BYD delivered more battery electric vehicles (BEVs) in the fourth quarter of 2023 than Tesla did (484,000 BEVs delivered). This accomplishment not only signifies a prosperous quarter for BYD but also the company’s ascent in the cutthroat EV market. BYD’s 2023 overall sales saw a 62% year-over-year rise to 3.02 million vehicles, exceeding their aggressive … Continue reading BYD Dethrones Tesla in 2023 Q4: Record 526K EV Sales to Become Global Leader