BYD takes #1 spot from Tesla as biggest EV player
Tesla has held the number one spot as the world’s biggest electric vehicle (EV) manufacturer since modern day EVs hit the market, but that’s now all changed.
BYD supercedes Tesla as best-selling EV maker
BYD, the Chinese manufacturer, who counts Warren Buffet’s Berkshire Hathaway as a shareholder, delivered more vehicles in Q4 last year despite Tesla beating forecasts for the number of vehicles that left its showrooms around the world.
Rivian numbers fall short of target
Another US EV maker, Rivian, the so-called adventure electric vehicle manufacturer, reported it had delivered 13,972 vehicles in the fourth quarter of 2023, falling short of the 14,000 forecasted by analysts. Its stock fell 10% as a result, but while western manufacturers are feeling the pressure, the outlook will all be about pricing, which BYD is playing a winning game in its competitive ticket prices.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
