Cars sold more than
For the first six months of the year, that doesn’t mean it sold most battery-only electric cars.
First, the headlines. Based on Shenzhen
(Tape: 1211.Hong Kong) It sold 641,000 “new energy” cars in the first half of 2022, the company said on July 3. This represents an increased convergence 315% On an annual basis in the same period last year. In June, BYD sold 134,036 new energy vehicles, an annual increase of 162.7%.
By comparison, Tesla (TSLA) delivered nearly 565,000 vehicles in the first half of the year. In the second quarter, Tesla delivered 254695 cars, down 18% compared to first-quarter deliveries of 310,048 vehicles. But June was the highest car production month in Tesla’s history, according to the company.
The key is the term BYD used – New Energy Vehicles, or NEVs. In China, this includes hybrid vehicles that have an internal combustion engine as well as a battery pack that can be charged using an external power source. BYD sells both plug-in hybrids as well as All battery powered vehicles. Tesla only sells battery-powered electric cars, which is what we usually think of when we hear the term EV.
BYD sold 314,638 hybrid cars in the first half of the year, up 454% compared to the first half of 2021. BYD sold 323,519 battery electric vehicles in the first half of 2022, up 246% from the same period the previous year, while Tesla sold 564,753. Tesla still has an advantage in battery-only cars, but BYD’s growth is accelerating.
Tesla stock is down about 2.9% in early trading, lagging both the
Nasdaq CompositeAnd the
which fell 1.9% and 0.9%, respectively. BYD shares closed down 0.7% in offshore trade.
BYD shares traded in Hong Kong have gained more than 17% this year. As Monday’s trading approaches, Tesla’s stock is down nearly 35%.
Write to Lina Saigol at [email protected]
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