Tesla will release sales data on Tuesday. According to Bloomberg, analysts expect Tesla to report sales of around 483,200 all-electric vehicles in the fourth quarter.
In all of last year, BYD sold about 1.6 million pure electric cars and about 1.4 million plug-in hybrid cars. In the third quarter, BYD sold 431,603 all-electric vehicles, while Tesla delivered 435,059 to customers.
BYD announced last month that it will build its first European passenger car factory in Hungary. She added that the factory in the city of Szeged (Segedín) should create thousands of new jobs. BYD already operates a factory in Hungary in the town of Komárom near the Slovak border, which produces buses with an electric drive.
For European car companies, for example the German concern Volkswagen, the planned BYD factory means the prospect of another strong competitor in the European electric car market. BYD and other Chinese automakers are trying to expand in Europe to reduce dependence on the domestic market, where they are struggling with oversupply and a price war unleashed by US rival Tesla. “BYD is stepping up overseas expansion as its domestic market share is already at its peak,” Bernstein analysts said.