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:
Descending
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
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
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