2024 The Chinese car company is chasing Tesla

 The strong rise of the Chinese automaker has been threatening Tesla's throne.

More than 10 million electric rechargeable vehicles were delivered to consumers in 2022, accounting for 14% of total global auto consumption. Plug-in electric vehicles include pure electric vehicles (BEV) and plug-in hybrid vehicles (PHEV).

According to EV-Volumes data, the top 5 manufacturers account for more than half of total global electric vehicle sales.

Charging electric vehicles (BEV and PHEV)

Compared to 2021, the order of the Top 5 electric vehicle manufacturers in 2022 has changed significantly, when the name BYD from China has surpassed Tesla, rising to the number 1 position.

Specifically, with sales of more than 1.85 million vehicles, BYD accounts for 18.4% of the world electric vehicle market share. This sales increased more than 3 times, while the market share increased more than 2 times from 9.1% compared to 2021.

Meanwhile, Tesla achieved sales less than BYD by more than half a million cars, pulling its market share down to 13%, compared to 14.4% a year earlier.

Chinese car company chases Tesla, electric car market order changes - 1

Tesla leads the electric vehicle market for 4 consecutive years - 2018, 2019, 2020 and 2021 (Photo: Tesla).

BYD's rise to the throne also pushed the Volkswagen Group back to third place, with sales of 831,000 vehicles. This sales is equivalent to a market share of 8.2%, down significantly from 11.7% in 2021.

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