How long will BYD continue to dominate the electric vehicle market with its innovative and resilient approach?
Photo by Michael Förtsch on Unsplash.
- Surpassing Expectations: BYD Emerges as Top-Selling Car Manufacturer in 2023
- Navigating Challenges: Price Wars and Geopolitical Tensions in the Automotive Industry
- Investor Scrutiny: BYD’s Financial Performance Amidst Market Volatility
In 2009, Build Your Dreams BYD (BYDDY) emerged as an unexpected player in the car manufacturing electric vehicle (EV) and PHEV hybrid car market. Initially underestimated for its unconventional designs and technology at its first car release, the BYD company soon became a tough competitor, surprising industry observers with its rapid growth and innovation.
BYD’s journey was going smoothly until the first few days of April 2020, when its market price spiked from 12.01 dollars per share to hit the edge-year price of above 60 dollars per share. Meanwhile, BYD’s journey continued its prominence and culminated in 2023, when the company achieved a significant milestone by becoming the top-selling car manufacturer for the year. With 3,024,417 vehicles sold, of which 1.6 million were EVs, BYD surpassed its competitors, including the renowned American giant Tesla, which sold 1.8 million EVs.
