BYD, China's largest seller of battery-electric vehicles, is creeping up on world leader Tesla after posting another strong month of EV sales.

BYD announced new energy deliveries of 261,105 units for July. That's both plug-in hybrids and battery-electric vehicles. Of the total, about 134,800 were all battery-electric, up from about 81,000 BEVs sold in July 2022.
For the past three months, BYD has delivered about 383,000 BEVs. Tesla, which reports deliveries quarterly, delivered about 466,000 BEVs in the second quarter. Those two numbers mean BYD is delivering more than 80% of the volume of Tesla's deliveries on a quarterly basis.
Which is number one and number two arguably only matters for bragging rights, but while it's only a number it is a way to measure EV dominance. The two companies are not directly comparable, though. Tesla, for instance, sells more expensive cars and is more profitable than BYD and the U.S. company also sells in more markets around the globe.
What's Next: At the two companies' current growth rates, BYD might take the lead in a few more quarters. However, Tesla has a much bigger lead in market capitalization. Its shares are worth roughly $820 billion, while BYD's market cap is roughly $110 billion.

'Al Root

***