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BYD catches up with Tesla in the global electric vehicle market

American electric vehicle giant Tesla maintained its leading position in the electric vehicle market in the last calendar year of 2021, according to the latest industry data.

Despite claims by a popular Chinese vlogger about the Tesla Model 3's faulty automatic emergency braking system, the company is still showing a strong presence in the world. Recall that the Chinese division of Tesla filed a lawsuit against a local blogger-influencer with 14 million subscribers for spreading allegedly false information about the Model 3.

Tesla's total electric vehicle sales exceeded 936,000 units last year, with 170,000 new registrations recorded in December alone. Second place is held by BYD, which sold nearly 600,000 electric vehicles in a year, including 93,000 in December. It should be noted that BYD has made significant progress in its overseas operations, complementing its strong performance in China. The SGMW joint venture is in third place with 456,000 vehicles and 61,000 new registrations in December.

Fourth, fifth and sixth places were taken by Volkswagen, BMW and Mercedes, respectively. There was also a noticeable increase in companies such as Ford (500 new registrations in December), Geely (11,348 registrations) and Porsche (10,631 registrations).

Overall, Tesla's market share in 2021 was 14%. Since 2019, it has been gradually decreasing, and BYD is experiencing a feverish growth, as a result of which the company tripled its shipments by 2021. The company expanded into several markets, including the United States, where it launched electric school buses. It is expected that BYD may well overtake Tesla in the near future.

BYD founder Wang Chuanfu said that the company intends to become number one in the world by 2025.

BYD catches up with Tesla in the global electric vehicle market