Chinese automaker BYD beat out Tesla to become the new leader in global electric car sales in the final quarter of last year. Tesla on Tuesday revealed it had delivered a record 484,507 cars in the last three months of 2023, compared with 526,409 for BYD. While Tesla still sold more cars than BYD for the full year — 1.8 million compared with 1.57 million — the quarterly milestone hints at “the next stage in the long-awaited Chinese takeover of the electric vehicle segment,” notes Business Insider.
- U.S.-based Rivian delivered 13,972 electric vehicles last quarter, it announced Tuesday, 10% fewer than in the previous quarter and below analyst expectations.
- Many EVs lost eligibility for U.S. tax credits after new battery sourcing rules took effect on Monday, including the Tesla Cybertruck All-Wheel Drive and some Tesla Model 3s, per the U.S. Treasury.
- As sales hit records, investor concerns have mounted around demand for electric vehicles in the coming year.