Key Facts About BYD Company
Who: BYD Company (OTC: BYDDY).
What: A leading electric vehicle (EV) manufacturer, surpassing Tesla in sales.
When: Second quarter of 2023.
Where: Primarily operates in China, with increasing demand in Europe and other Pacific regions.
Key Numbers: BYD sold nearly 607,000 battery-powered EVs in Q2 2023, compared to Tesla’s 373,728. BYD controls about 30% of China’s EV market, while it continues to supply batteries for other manufacturers.
Despite a declining interest in EV purchases among Americans—from 25% in 2022 to 16% in 2023—BYD is profiting in growing markets, particularly in China, where new energy vehicles comprised half of the new car sales in July 2023, up 27% year over year.
