{"id":30629,"date":"2023-07-03T03:02:44","date_gmt":"2023-07-03T07:02:44","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/byd-beat-tesla-in-china-in-q2-this-is-a-two-horse-race-though\/"},"modified":"2023-07-03T03:02:46","modified_gmt":"2023-07-03T07:02:46","slug":"byd-beat-tesla-in-china-in-q2-this-is-a-two-horse-race-though","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30629","title":{"rendered":"BYD Beat Tesla in China in Q2. This Is a Two Horse Race, Though."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000684124\">\n<p>Chinese EV maker<br \/>\n        BYD<br \/>\n       reported another impressive month, and quarter, of growth, besting even<br \/>\n        Tesla<span>,<\/span><br \/>\n       which put up its own impressive numbers for the second quarter of 2023. <\/p>\n<p>Sunday, BYD (ticker: 1211. Hong Kong) reported 251,685 electrified passenger vehicles sold in June. For the second quarter that means BYD sold more than 700,000 EVs, up almost 100% from the same time last year. <\/p>\n<div class=\"paywall\">\n<p>BYD sells both plug-in hybrid vehicles and all-battery electric vehicles. For the quarter, BYD sold roughly 350,000 battery-electric vehicles, or BEVs, up more than 90% over last year. <\/p>\n<p>\n        Tesla<br \/>\n       (TSLA), sold about 466,000 BEVs around the globe in the second quarter. Tesla is number one globally, but BYD is number one in China. The vast majority of BYD sales are in China. <\/p>\n<p>Tesla doesn\u2019t report sales by geography, but the 466,000 number likely includes about 155,000 sold in China, up more than 70% over last year. <\/p>\n<p>BYD\u2019s 90% is faster than Tesla\u2019s 70%. There are reasons Tesla grows slower in China than BYD. For starters, Tesla makes more expensive vehicles. It\u2019s easier to sell less expensive cars. And Tesla serves other markets from its plant in Shanghai. Some of Tesla\u2019s Chinese output ends up in Europe and even Canada. <\/p>\n<p>While BYD is growing faster, numbers from both companies show that the battle for EV leadership in China is a two-horse race. Both companies are growing faster than the market. Both companies have picked up market share in the first half of 2023. <\/p>\n<p>Combined second quarter deliveries for<br \/>\n        Li Auto<br \/>\n       (LI),<br \/>\n        NIO<br \/>\n       (<br \/>\n        NIO<br \/>\n      ) and<br \/>\n        XPeng<br \/>\n       (XPEV), for instance, totaled 133,258 units, up about 50% over last year. Impressive growth, but not as fast as the EV leaders. <\/p>\n<p>\n        Li Auto<br \/>\n       deserves some consideration. It grew sales by about 200% in the second quarter over a year ago. NIO and<br \/>\n        XPeng<br \/>\n       deliveries both dropped from last year. <\/p>\n<p>The battle for global dominance is getting closer. Over the past 12 months, Tesla has delivered about 1.6 million BEVs compared with about 1.2 million for BYD. Tesla is about 35% bigger than BYD over that span. A year ago, Tesla was twice as large as BYD. <\/p>\n<p>Tesla still has the edge over BYD in terms of market capitalization by a long shot. Tesla is worth north of $800 billion. BYD\u2019s market cap is about $100 billion. <\/p>\n<p>Tesla has extended its market cap lead over the past year. Shares are up about 12% over the past 12 months while BYD stock is down about 21%. The<br \/>\n        S&amp;P 500<br \/>\n       and<br \/>\n        Nasdaq Composite<br \/>\n       are up about 16% and 22%, respectively, over the same span. <\/p>\n<p>Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/byd-beat-tesla-in-china-67aa475d?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese EV maker BYD reported another impressive month, and quarter, of growth, besting even Tesla, which put up its own impressive numbers for the second quarter of 2023. Sunday, BYD (ticker: 1211. Hong Kong) reported 251,685 electrified passenger vehicles sold in June. For the second quarter that means BYD sold more than 700,000 EVs, up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-30629","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BYD Beat Tesla in China in Q2. 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