Warren Buffet’s Berkshire Hathaway has major shares in BYD which has contributed to its success. Furthermore, it has surpassed LG to become the world’s second-largest maker of EV batteries. Owning factories that are unlikely to be affected by lockdowns and a plentiful supply of batteries prove to b a potent combo.
BYD Surpasses Tesla in a Bid to Become the Largest EV Manufacturer
As per a source, during the first half of 2022, Tesla managed to sell 564,000 automobiles. However, sales for Shenzhen-based BYD increased by 300 percent to 641,000 units. Musk probably won’t be too unhappy as Tesla lost its dominance in the EV market. Several EV manufacturers, including Tesla, Li Auto, Xpeng, and Nio, were affected by recent lockdowns in China, particularly in Shanghai. However, the majority of BYD’s plants are located in locations that did not experience prolonged lockdowns, therefore manufacturing continued unabated. So, we are uncertain if Tesla can recover the top spot, but the business did sell 936,172 vehicles in 2021. Check out? Tesla to Upgrade its Gigafactory Berlin to Ramp up Production
