BYD expands into UK, could it overtake Tesla in global BEV sales?

Having already expanded to several countries across Europe, Build Your Dreams (BYD) has announced that sales of its electric vehicles will begin in the UK this quarter. As the veteran Chinese automaker continues to expand its BEV production and sales footprint globally, we’re wondering if 2023 will be the year that BYD Auto takes Tesla to the top spot in global sales.

BYD Auto is the automotive subsidiary of BYD Company, which was established two decades ago to design and manufacture passenger cars, buses, trucks and forklifts for China. More recently, the company has started manufacturing rechargeable batteries and eBikes while shifting its manufacturing focus to BEV and plug-in hybrid electric vehicles.

In fact, in March 2022, BYD produced its last internal combustion engine vehicle, repositioning its business for a future that is not only fully electric, but recognized globally. Last summer, BYD announced plans to start selling its electric vehicles in the Japanese market. Only ten days later, the company followed up promisingly EV deliveries in Germany and Sweden before the end of 2022.

With a current sales presence in the aforementioned countries, plus Norway, Denmark, the Netherlands and Belgium, BYD has ended the year sharing plans for at least one, if not two. Production sites in Europe to support these markets and beyond. BYD will continue to gain momentum through 2023 a very successful year before.

Now the automaker plans to start sales in the UK, another huge global market that’s growing, especially for electric vehicles. One in which BYD can continue trying to compete against current sales leader Tesla. Also in China BYD didn’t pull any punches saying its BEVs are designed to compete with Tesla, and some have predicted the former will overtake the latter in global EV sales this year.

BYD Tesla
BYD’s ATTO 3 crossover will be the company’s first electric vehicle sold in the UK / Source: BYD

BYD has already overtaken Tesla by 2022 if you count PHEV sales

That’s true, but that’s it electr, so we will focus on BEV sales. By starting UK sales this quarter with the ATTO 3 shown above, BYD has added one of the largest European markets to its order list – one that saw BEV models account for around 17% of deliveries in 2022Diesel overtake for the first time ever.

When you combine BYD’s six countries in Europe beginning sales of electric vehicles with its current and expanding markets in Asia and Australia, and then recognize the company’s growing manufacturing footprint, it’s hard to argue its recipe for success. At least we’ll be able to look back and say that BYD panned for the fences, but will it be enough to overtake Tesla?

After BloombergNEFBYD has already overtaken Tesla in global EV sales last year, but only if you count PHEVs, and we just won’t do that. However, we would like to point this out Bloomberg predicts that BYD will overtake Tesla in BEV sales later this year.

BNEF was the first to say that betting against Tesla has never gone well for these naysayers, but BYD’s sales figures for 2022 cannot be ignored. The Chinese automaker 911,140 BEVs sold last year, compared to 321,000 in 2021. That is a 184% YOY increase in sales.

The outlet expects Tesla’s BEV sales to grow 30-40% this year due to ramped-up production in GigaBerlin and Austin, but it can boil down to pricing and how many consumers Tesla can steal from BYD and vice versa. Despite BYD’s global expansion, much of its sales power still comes from the Chinese market, with another region selling Tesla electric vehicles. However, BYD’s revenue split could shift as it ramps up its European manufacturing and looks set to expand into more and more markets.

Could BYD bring the fight to Tesla’s home turf in the US? The company is yet to reveal itself, so the immediate focus seems to be on Europe and Asia for now. But that could prove interesting in the future and really put the BYD brand on the global map as a BEV automaker to consider.

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Hey, I am Sakib Hossain Sojib, an entrepreneur known as an SEO Specialist, Digital Marketer, Blogger, and Content Creator. I have a team of researchers who guide and review products for our audience to help them by providing valuable information to help our audience makes the best decisions for their needs. I love to take care of my cars. So, I like and enjoy car maintenance and automotive research. The provided content is based on my learning, research, and understanding of the topic and its concept. Our extensive experience in the industry allows us to offer unique insights and perspectives on the latest trends and products. We aim to educate and empower our readers by providing them with the knowledge they need to make informed decisions about their needs.

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