Feb 23, 2024 20:36:00What is the reason for the rapid progress of the Chinese company 'BYD', which has surpassed Tesla and jumped to the number 1 spot in EV sales? BYD released the gasoline car `` BYD F3 '' in 2005, and began selling the plug-in hybrid car `` BYD F3DM '' in 2008. Tesla finally cedes top spot in EV sales to China's BYD - GIGAZINEBelow is a graph showing the trends in electric vehicle sales of BYD (black) and Tesla (blue). Furthermore, in 2011, Chairman Wang said , ``The automobile industry should concentrate on gasoline vehicles and hybrid vehicles,'' and there remained a reluctance to export electric vehicles outside of China. For example, a major Swiss bank, UBS, published an analysis showing that BYD's electric cars cost 35% less to manufacture than Volkswagen's models in the same price range.

Source: New York Times February 23, 2024 12:14 UTC