BYD is at the forefront of electric car sales, even surpassing Elon Musk's Tesla. The company has a 314% jump in sales.

According to information sent to the Hong Kong Stock Exchange, where it is listed, BYD claims to have sold 641.350 electric cars between the months of January and June of this year, a big increase compared to the 154.579 units sold in the same period of the last year, representing a year-on-year increase of 314%. Despite not having been audited and with possible changes, this number exceeds the electric cars sold by Tesla by Elon Musk, which announced the sale of 564 thousand units in the first six months of this year.

Tesla director talks about the possible reasons that caused the reduction in the number of sales of electric cars by the automaker

Elon Musk’s company justified those numbers with “supply chain interruptions” and obstacles in activities carried out in China, generated by the blockade of Shanghai, the economic capital of the Asian country, due to epidemic prevention measures.

The number underscores the growing export capacity of manufacturers of chinese electric cars, according to analysts quoted by the Financial Times newspaper, who highlighted that BYD is trying to produce products that cover several critical sectors of the market. 

According to Lian Yubo, executive vice president of BYD, in an interview, the Chinese company will make lithium-ferrophosphate (LFP) batteries available in the near future, precisely to Elon Musk's Tesla. BYD, which manufactures batteries for its own electric and hybrid cars, is present in more than 200 countries and launched in 2020 its Blade battery, based on LFP technology, ensuring that it is safer than other options on the market, because it has a lower tendency to overheat.

BYD shares rise 36%

Until then, the Chinese giant CATL is the only company that makes LFP available to Elon Musk's Tesla, which has been using, since 2020, the components for the electric cars it produces at its unit in Shanghai. According to Tesla, about half of the models produced in the first quarter were equipped with LFP batteries, cheaper than the nickel ones used in the West.

BYD shares are up 36% since the start of the year, with the automaker approaching a market capitalization of one trillion Chinese yuan, which in direct conversion equals about $149 billion.

Pressure from Beijing on people to reduce CO₂ emissions has contributed to the automaker's growth as China's biggest domestic company. BYD continued to boost its sales and share price, even though pollution haunted one of its factories in Hunan province, where residents in the region report suffering from nosebleeds, breathing problems and vomiting.

BYD is betting on Brazil and expands the sale of its electric cars

BYD is in Brazil making its electric cars available and generating thousands of jobs at its units and has been gaining more and more prominence in the national market in recent months.

Since it decided to enter the light electric vehicle market in the country at the beginning of the year, the automaker, which already operates in the heavy vehicle sector and other divisions focused on electricity, has already presented two models and stated that it will open 45 dealerships in Brazil.

According to Henrique Antunes, sales director at BYD do Brasil, the company started out focused on sectors such as buses, forklifts and solar energy. Electric cars were still something far away from the company, which emerged with greater presence in 2015.