Could BYD Outpace Tesla If They Sold In North America?

Key takeaways

• BYD is China’s largest manufacturer of electric vehicles (EVs).
• The company is outpacing Tesla in sales, selling 1.62 million cars between January and November 2022 compared to Tesla’s 1.37 for all of 2022.
• BYD is taking a careful approach to entering the U.S. market due to political and economic uncertainty.

Electric vehicles are a growing industry, with the number of EVs purchased in the U.S. increasing to 4.5% of all cars sold. Numbers in other regions, including China, are even higher. In 2021, China saw 3.3 million EVs hit the road, triple the number sold in 2020.

BYD is one of China’s largest EV manufacturers. It has made some investments in the U.S., leading some to wonder whether the company plans to enter the American EV market.