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BYD is set to beat Tesla for a second straight year after producing more than 3 million cars in 2023

www.cnbc.com BYD is set to beat Tesla for a second straight year after producing more than 3 million cars in 2023

In 2022, Tesla produced 1.37 million vehicles, fewer than BYD's 1.88 million.

BYD is set to beat Tesla for a second straight year after producing more than 3 million cars in 2023

BYD said Monday it produced more than 3 million new energy vehicles in 2023, putting the Chinese electric car giant on track to surpass Tesla’s production for a second straight year.

The U.S. electric car company had yet to release full-year figures as of Tuesday in Asia. Tesla said it produced 1.35 million cars during the first three quarters of 2023.

In 2022, Tesla produced 1.37 million vehicles, fewer than BYD’s 1.88 million. New energy vehicles include battery-powered and hybrid models.

Most of BYD’s cars sell in a lower price range than Tesla’s, and come in hybrid versions. Elon Musk’s automaker only sells purely battery-powered cars. China accounted for about one-fifth of Tesla’s sales in the quarter ended Sept. 30.

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