BYD records 211% production to dislodge Tesla as world’s leading EV manufacturer

According to StockApps.com, the company has grown its production by a whopping 211% in 2022. This impressive growth has pushed its way past Tesla, the previous leader in EV production, and the company expects to become the first automaker to exceed 2 million EVs in 2023.

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BYD’s current presence in non-domestic markets is limited, but with its plans to build factories in Europe and Thailand to avoid EU tariffs on Chinese car imports, this could all change very quickly.

StockApps financial analyst Edith Reads commented on the data saying, “BYD’s success is attributed to several factors, including China’s increasing focus on electric vehicles, the company’s tightly integrated supply chain for important components, and a growing consumer preference for affordable yet high-quality cars, especially in light of an impending economic downturn.” The full story and statistics can be found here: BYD Grew Its Production by 211%, Dislodging Tesla as the World’s Leading EV Manufacturer