Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Chinese EVs Are Taking Over the Market—BYD and Xiaomi Are Stepping on Tesla’s Toes

Daniel Kim Views  

Shutterstock
Shutterstock

According to a recent report by Electric, a leading EV industry publication, Chinese automakers are rapidly gaining global competitiveness in the electric vehicle (EV) market.

Half of the top 10 EV sellers are now Chinese companies. BYD is hot on Tesla’s heels, while Xiaomi has surpassed Toyota in sales after launching its first model.

Data from MarkLines, a Japanese automotive research firm, reports that 2.52 million EVs were sold across 55 global markets in the third quarter. Tesla led with 432,000 units sold, closely followed by BYD at 424,000 units.

In March, Xiaomi overtook Toyota just six months after debuting its first EV, the SU7. AlixPartners predicts Chinese brands will capture over a third of the global EV market by 2030.

China’s dominance extends to the battery sector. CnEVPost forecasts that by October 2024, Chinese giants CATL and BYD will control over 50% of the global EV battery market.

Meanwhile, American and European automakers are losing ground. General Motors ranked fourth with 184,000 units sold, while Volkswagen slipped to fifth place as sales dropped 17% to 170,000 units.

Japanese brands face even greater challenges in the EV transition, failing to crack the top 20. Nissan sold 34,000 units, ranking 22nd, with Toyota and Honda following at 23rd and 24th, respectively.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible
  • Toyota’s bZ3X SUV Surges with 10,000 Pre-Orders: A New Era in EVs

You May Also Like

  • 1
    Snoring May Be Hurting Your Memory More Than You Think

    LIFESTYLE 

  • 2
    Superfoods Gone Wrong: What Not to Overeat

    LIFESTYLE 

  • 3
    Stop Peeling Your Kiwi—Here’s Why You Should Eat the Skin

    LIFESTYLE 

  • 4
    Ovarian Cancer’s Hidden Threat? It’s in the Fluid, Not the Tumor

    LIFESTYLE 

  • 5
    New Study Says Everyday Plastic Could Be Wrecking Your Sleep

    LIFESTYLE 

Popular Now

  • 1
    Why Doctors Call Syphilis the Great Pretender

    LIFESTYLE 

  • 2
    This Tiny Organ Can Cause Big Trouble—Here’s How to Catch It Early

    LIFESTYLE 

  • 3
    Think Smoothies Are Healthy? You Might Want to Rethink That

    LIFESTYLE 

  • 4
    Your Morning Coffee Might Actually Be Helping Your Bones

    LIFESTYLE 

  • 5
    Managing Carbohydrates: What to Know Before You Cut

    LIFESTYLE 

Must-Reads

  • 1
    Snoring May Be Hurting Your Memory More Than You Think

    LIFESTYLE 

  • 2
    Superfoods Gone Wrong: What Not to Overeat

    LIFESTYLE 

  • 3
    Stop Peeling Your Kiwi—Here’s Why You Should Eat the Skin

    LIFESTYLE 

  • 4
    Ovarian Cancer’s Hidden Threat? It’s in the Fluid, Not the Tumor

    LIFESTYLE 

  • 5
    New Study Says Everyday Plastic Could Be Wrecking Your Sleep

    LIFESTYLE 

Popular Now

  • 1
    Why Doctors Call Syphilis the Great Pretender

    LIFESTYLE 

  • 2
    This Tiny Organ Can Cause Big Trouble—Here’s How to Catch It Early

    LIFESTYLE 

  • 3
    Think Smoothies Are Healthy? You Might Want to Rethink That

    LIFESTYLE 

  • 4
    Your Morning Coffee Might Actually Be Helping Your Bones

    LIFESTYLE 

  • 5
    Managing Carbohydrates: What to Know Before You Cut

    LIFESTYLE 

Share it on...