New BYD Chinese Electric Car GOING to Change Whole Industry

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Today, China is racing ahead in the electric vehicle segment. While you might have not seen many electric cars from China in Europe, at least not yet, one Chinese company is racing ahead and even competing with tesla. We are talking about BYD and in this video we take a look at how this Chinese automaker is changing the entire EV industry forever. Stay tuned

BYD has been pretty successful in 2021. In fact it recorded over 70% sales in May 2022, thus confirming it aa the top 3 automakers in its home country, China. The company has maintained its leadership position in the clean energy vehicles in 2022. These new and clean energy vehicles include hybrid and battery powered automobiles.

BYD is responsible for two of China’s top three best-selling new energy models during the previous month. These models included both larger SUVs and smaller passenger vehicles. And because of these sales, BYD is now in second place in the passenger car market in China, only behind FAW-Volkswagen, which has sold 150,009 vehicles. And just this year, BYD overtook Tesla in worldwide electric vehicle sales. BYD, which has its headquarters in Shenzhen, achieved sales of 641,000 automobiles in the first half of this year. Now, this is a more than 300 percent increase over the same period a year earlier, indicating China’s expanding preeminence in the industry! This is in comparison to the 564,000 automobiles that Tesla has sold. Tesla has attributed its poor performance in the second quarter to delays in its supply chain and sales in China. This comes after the company’s operations were hindered by coronavirus lockdowns and travel restrictions. Now, this was partly because of problems at Tesla’s factory in Shanghai after China’s most populated city was put on lockdown for two months to stop a wave of Omicron coronavirus cases.

But how did BYD overtake Tesla in sales ?
You see , sales numbers for the year’s first half showed that BYD sold 641,000 cars. This was 300% more than the year before and more than Tesla, which sold 564,000. In doing so, it could pass Tesla before Volkswagen, Ford, or General Motors, all of which had said they wanted to do the same thing. Now, BYD makes its own batteries, stores energy, and makes computer chips. With a background in making batteries and a lot of patience, the group has become a strong up-and-coming competitor in the global car industry. But while Tesla is known worldwide, BYD is not well known in international markets. Executives in the rest of the industry know that this will change soon and that China will become a significant player in the global market for electric vehicles. BYD is unique among Chinese corporations. Most Chinese manufacturers of electric cars have high hopes that the shift to EVs will propel them to a prominent position on the international stage. And because of luck, BYD has overtaken Tesla in terms of sales. Shanghai, which is home to Tesla’s largest plant in China, was sealed off for two months. According to estimates provided by data source EV-volumes, the shutdown caused Tesla to lose between 80,000 and 100,000 cars. BYD, on the other hand, was less of a casualty because most of its production is located in the southern Shenzhen region. However, this fortunate turn of events brought on by location hides BYD’s longer-term progress as a significant challenger to Tesla and automakers worldwide.

Research indicates that BYD now possesses around ten percent of the world’s capacity to manufacture electric vehicle batteries. Its present battery plant capacity of 80-gigawatt hours is twice as much as it had in 2019, and it is predicted to reach 185-gigawatt hours by 2025. Even though most of its sales are in China and only 3,300 BYD vehicles were exported in the first five months of 2022, the company has big plans for the rest of the world. It already sells electric buses in Europe, Japan, and India and plans to sell cars in Europe, Australia, Latin America, and the Philippines. Also, it made a deal with Dutch car dealer Louwman last week for its first European launch.

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