Warren Buffett’s BYD has beaten the most popular electrical vehicle manufacturer on the list for most sold cars. This grows to be one of the greatest rivalries in the world. For sure one that includes two of the wealthiest people on the planet.
The $210 billion Elon Musk, the first on the list of wealthiest people, and Warren Buffett the seventh on the list with a $100 billion net worth.
Elon’s Tesla Beaten On The Market – No Longer The Largest Seller Of EVs
As you’d imagine, there is a rivalry and run for prestige between these two. Of course, one of the main goals of BYD is to surpass Tesla’s sales and at the same time surpass its popularity. And that is where Tesla is pretty strong. We mean the popularity trait. It has one of the most controversial and influential people for CEO. He makes the headlines on a daily basis with his interesting views on the world and the future, as well as the controversies that surround him on daily basis.
BYD motor, Warren Buffett’s child, is one of the greatest electrical vehicle manufacturers in the recent period going toe to toe with the most popular brand, Elon’s Tesla. Recently it is revealed that they surpassed Tesla’s sales with an astonishing difference of 80 000 vehicles.
BYD motors sold about 640 000 vehicles in the period between January 1st and June 30th only from their Chinese plant with headquarters in Shenzhen, Guangdong. The car manufacturer had a giant leao in sales, jumping more than 300% in one year. The stock market price for BYD is also in constant rise for the past five years. It is up by 600% since 2018, and in the past year only it made a jump of about 40%. Even though the stock market price is far from Tesla’s, it surely closes in to them.
Tesla on the other hand sold about 560 000 vehicles in the past six months. According to CEO Elon Musk, this is solely due to the Coronavirus pandemic lockdowns in China. This caused the company to close its production plant in Shanghai for a considerably long period. This results in lower sales and lower production for the time they are in stoppage. Just so you can have a mental picture of the role of the Shanghai production plant in the Tesla family – this plant was responsible for half of the company’s production in 2021.
This is not the first time that Tesla and BYD cross swords. Back in 2003, BYD sold 80 000 vehicles more than Tesla as well. However, since then, they faced an environmental pollution scandal that is still ongoing. Allegedly the BYD factory is responsible for various sicknesses in residents around the area of the factory. They report constant vomiting and difficulty breathing. Furthermore, there are many children suffering daily nosebleeds that are believed to be connected to BYD’s pollution of the area.
What do you think? Can BYD surpass Tesla’s success? Have you ever heard of BYD before?
