BYD Ended 2023 By Surpassing The EV King In Battery-Only EV Sales For The First Time
Portfolio Pulse from Upwallstreet
BYD Company Limited surpassed Tesla in battery-only EV sales for the first time, ending 2023 with over 3 million new EVs produced. Tesla, while still leading in battery-only production, delivered 1.8 million EVs in 2023. Xiaomi Corporation announced its entry into the EV market, challenging Tesla and Porsche. Li Auto Inc reported a record high in deliveries and a 182% YoY growth, with plans to launch a battery-powered vehicle. XPeng Inc reported a 17% YoY rise in deliveries and record figures for December and Q4. BYD's in-house battery production has allowed it to cut prices and boost sales, despite falling short of CLSA's expectations.
January 02, 2024 | 6:56 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Tesla delivered 1.8 million EVs in 2023, maintaining its battery-only production leadership, but was surpassed by BYD in battery-only EV sales.
Tesla being overtaken by BYD in battery-only EV sales could be seen as a negative by investors, potentially leading to a short-term decrease in stock price, despite maintaining production leadership.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
NEUTRAL IMPACT
Xiaomi Corporation announced its entry into the EV market, positioning itself as a direct competitor to Tesla and Porsche.
Xiaomi's announcement to enter the EV market introduces a new competitor, which could have a neutral short-term impact on its stock as the market assesses its potential in the EV space.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BYD surpassed Tesla in battery-only EV sales, producing over 3 million new EVs in 2023, with a significant portion being battery-only vehicles.
BYD's milestone in surpassing Tesla in battery-only EV sales and its strong production figures are likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Li Auto Inc reported a record high in deliveries with a 182% YoY growth and plans to launch its first battery-powered vehicle soon.
Li Auto's record delivery numbers and significant YoY growth, along with the upcoming launch of a battery-powered vehicle, are likely to be seen positively by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
XPeng Inc reported a 17% YoY rise in deliveries for 2023, with record December deliveries and the launch of its X9 MPV.
XPeng's positive delivery growth and the launch of a new model could be seen as positive developments by investors, potentially leading to a short-term increase in stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90