FMP
Jul 2, 2024 7:21 AM - Parth Sanghvi
Image credit: Michael Förtsch
Hold onto your charging cables! China's BYD (SZ:002594) is revving its engines, reporting a significant jump in electric vehicle (EV) sales for the second quarter.
BYD Sales Surge: Tesla in the Rearview Mirror (Almost)?
BYD delivered a whopping 426,039 EVs in the April-June quarter, according to Reuters' calculations based on monthly sales reports. This translates to a 21% increase compared to the previous quarter. While still shy of Tesla's estimated 438,000 deliveries for the same period, BYD is closing the gap rapidly.
Key Takeaways:
Is BYD the New EV King?
The answer remains to be seen. Here's a closer look:
What This Means for Investors
The EV market is heating up, and both BYD and Tesla are worth keeping an eye on. Consider these steps before making any investment decisions:
Disclaimer: I am not a financial advisor and this is not financial advice. Please consult with a qualified professional before making any investment decisions.
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