China's BYD produced about 440,000 battery-electric vehicles in the third quarter, compared with Tesla's 430,000. It's the first time BYD has bettered Tesla.
Chinese electric-vehicle maker BYD turned in another strong month of EV production that topped Tesla ‘s quarterly numbers for the first time. Still, there is good news for Elon Musk’s company embedded in recent delivery results.
That tops Tesla, the largest maker and seller of BEVs in the world. Elon Musk’s EV company produced 430,488 BEVs in the third quarter, up about 18% year over year. Tesla’s deliveries were constrained plant downtime. In July on the company’s second-quarter earnings conference call, Tesla said it was scheduling production breaks for upgrades. Tesla produced 479,700 units in the second quarter.
Tesla, in a Monday news release, said it still expects to ship 1.8 million units in 2023. That implies some 475,000 units will be produced and sold in the fourth quarter. The company expects a bounce back. Time will tell if it’s enough to reclaim the quarterly BEV production crown. Of if BYD will snatch the sales crown too.
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