It’s technically a concept vehicle, but a similar production vehicle should launch in Q1 2023. Coming in EV and PHEV variants, it starts at just under $50,000.ĭenza unveiled a sporty SUV on Aug. The company predicts 3,000 deliveries in October and 10,000 by December. 30 that a high-end brand, targeting the 800,000 yuan ($115,960) to 2 million yuan market, will launch in June 2023, with plans for an off-road vehicle, a luxury sedan, a high-end SUV and a super car.Įarlier reports said the brand would be unveiled in the third quarter and show off its first model, expected to be an off-road vehicle, before year-end.īYD’s Denza unit, 10% owned by Mercedes-Benz, will begin D9 minivan deliveries in late September. The China EV giant does plan to move upscale significantly.īYD said on Aug. The majority of BYD’s EVs and hybrids selling for $15,000-$34,000, though some vehicles top $40,000. Tesla, targeting the luxury and affordable luxury markets, has far higher selling prices than BYD. He set a goal for 2023 deliveries to hit four million. 2, BYD’s chairman said the automaker is targeting 280,000 vehicle deliveries a month by year-end. Deliveries seem likely to easily top 1.7 million. The auto giant said earlier this year it plans to sell at least 1.5 million NEVs in 2022, possibly 2 million. Clearly, higher Shanghai production is a key factor, but is demand keeping pace?īYD also is adding significant EV and battery capacity. Tesla China wait times for new vehicles have come down sharply. 4 that he expects Tesla production to hit a 2 million vehicle run rate by year-end.
September should be even stronger, with sales most in China itself.Īnalysts had expected Tesla to deliver 1.5 million EVs in 2022, though Shanghai’s Covid-related production hit and slow Berlin/Austin ramps may curb that. Tesla China sold 76,965 vehicles in August, including 42,463 for export. Just-finished capacity increases to the Tesla Shanghai facility should significantly boost production going forward, though that impacted output in July and early August. But production has been unusually low to start. Tesla began Model Y deliveries from its plants near Berlin, Germany, and Austin, Texas. 30 that production capacity is above 200,000 a month, with an order backlog of more than 700,000.īYD’s Q3 deliveries should easily top 500,000 EVs and hybrids, with all-electric vehicles around 250,000 or more. There are concerns that Shenzhen, where BYD is based, could return to lockdown. In the past few days, China has imposed a lockdown on Chengdu, the capital of Sichuan province with 21 million people, amid rising Covid cases. PHEV sales soared 203% to 91,299 units.īYD Chairman Wang Chuanfu said Covid restrictions and drought impacts had some impact on August output. Of the 173,977 passenger vehicles, sales of pure electrics leapt 172% to 82,678. a year earlier and 7.6% above July’s 162,530. 3, BYD reported record August sales of 174,915 EVs and plug-in hybrids, up 185% vs. Of course, Tesla still leads in all-electric vehicles, but BYD’s passenger EV sales did swell to 180,296 in Q2, significantly narrowing the gap. giant by just over 100,000 vehicles, seizing the EV crown. So BYD didn’t just overtake Tesla, it raced past the U.S. Less than 3,000 were exported, though overseas sales are expected to climb. In Q2, BYD sold 355,021 NEVs, surging 256% from a year earlier and jumping 24% vs. Tesla Shanghai was shut down for most of April, with limited production until early June. Tesla produced 258,580 vehicles in Q2 vs. Tesla reported Q2 deliveries at 254,695, slightly below views for about 256,000. The automaker set a massive 2023 delivery goal while a sweeping international expansion is just getting underway. Earnings are booming with sales surging and several new models being released. Tesla stock rebounded this past week from its 50-day line to move back above its 200-day moving average, arguably offering an aggressive buy point.īYD stock bounced back a little after plunging in the prior week as longtime investor Warren Buffett, whose Berkshire Hathaway ( BRKB) has disclosed small share sales.īYD the company is going from strength to strength. While a lot of attention falls on startups such as Rivian Automotive ( RIVN), Lucid ( LCID), Nio ( NIO), Xpeng ( XPEV) and Li Auto ( LI), as well as traditional automakers pushing into EVs, such as General Motors ( GM) and Ford Motor ( F), Tesla and BYD are setting the pace.
( BYDDF) are both fast-growing EV giants.
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