BYD, which stands for Build Your Dreams, is a world-renowned Chinese car manufacturer that has captivated the automotive industry with its technological advances, particularly in the field of electric vehicles. Founded in 1995 by Wang Chuanfu, BYD began as a company specialising in the manufacture of rechargeable batteries. Over the years, it has diversified its activities to become one of the most influential players in the global automotive industry.

BYD, the rise of the Chinese carmaker

BYD’s rise to prominence in the automotive market has been impressive. Their vision focused on innovation, sustainability and electrification has made them one of Tesla’s main competitors in the electric vehicle market.

The year 2023 marked a key turning point for BYD with a spectacular figure of over 500,000 electric cars delivered in the last quarter. This propelled the Chinese manufacturer to the number one position in the world, surpassing its American rival, Tesla.

The evolution of the world’s leading electric vehicle manufacturer

BYD experienced significant growth in 2023, reaching 3,024,417 vehicles sold, an increase of 61.9% compared with 2022. BYD’s sales in the last quarter of 2023 even surpassed those of Tesla, with 526,000 models delivered compared with 484,507 for Tesla. This performance was largely supported by the Chinese government.

Who sells the most electric cars?
The best-selling electric car brand in the world

In 2023, Tesla retained its position as world leader in terms of electric car sales, with a total of 1.8 million vehicles delivered. However, Chinese brand BYD is not far behind, with 1.57 million electric cars sold.

In the last quarter of 2023, BYD even surpassed Tesla in terms of quarterly sales. On the Chinese market, BYD clearly dominates thanks to its competitive prices and government support.

The results of these two electric vehicle giants show that the competition for the top spot is close. However, it should be noted that these figures only take into account sales of all-electric cars, excluding plug-in hybrids, where BYD also excels.

One of the keys to this success lies in BYD’s strategy of prioritising the local market before going international. The Chinese government’s support for the electric car industry has also played a crucial role in BYD’s rise.