Tesla has strengthened its lead as it looks to close out 2024 with a top sales title.
The clean energy and auto manufacturing giant has been relentless in tightening its grip on the electric vehicle market, providing enhanced features in the company's models and improving safety and security.
The efforts are proving worthwhile. Tesla has maintained its lead in 2024 EV sales, doing so despite competition from a strong opponent. Official numbers show Tesla was the world's best-selling battery electric vehicle company in the third quarter.
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As Teslarati explained, Tesla has outdone China-based automaker rival BYD by delivering a total of 462,890 vehicles in Q3 of this year, beating BYD, which sold 443,426 BEVs during the same period.
BYD took the lead in Q4 of 2023, but Tesla reclaimed the throne in Q1 of 2024 and hasn't lost it since. The Chinese automaker has also shown ingenuity from its side, notably as it sells both passenger and commercial new energy vehicles, including hybrids. In fact, BYD achieved sales of 1,129,256 passenger NEV units in Q3 of this year, signaling the continued transition to electrification.
EVs run on electricity stored in a battery pack that energizes one or more electric motors. One significant benefit is the substantial decrease in harmful air pollution compared to traditional gas-guzzling vehicles. These cars can be charged at a much lower cost than refilling vehicles that run on dirty fuels, and driving ranges on a full charge vary from about 100 miles to more than 500 miles.
Globally, EV sales are accelerating. According to a report by the International Energy Agency (IEA), electric vehicle sales jumped by 35% in 2023 compared to the previous year. The IEA also predicts that by 2030, EVs could account for 35% of new vehicle sales worldwide. Additionally, the Inflation Reduction Act has spurred around $100 billion worth of investments in the EV sector, including battery manufacturing and recycling.
With automakers such as BYD and Tesla driving developments in the EV world and making it more accessible with lower prices, the shift toward electric vehicles is not only transforming the car manufacturing industry but also helping us live on a cleaner, greener planet.
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