BYD, China's leading EV maker, witnessed a sales leap with 1.76 million units sold in 2023, propelling it to fierce competition with Tesla for EV dominance.
Sales of BYD's hybrid cars were instrumental in boosting its total vehicle sales by over 41% year-on-year, particularly helped by home market demand and subsidies.
The rise of BYD underscores the difficulties faced by legacy automakers in Western markets, prompting alliances such as the merger talks between Honda and Nissan.
While BYD thrives in China, foreign brands like Volkswagen and Toyota are struggling to maintain market share amidst growing consumer preference for local EVs.
Collection
[
|
...
]