Logo on a Tesla vehicle. Credit: 123RF
Tesla shipped a record 947,742 China-made electric vehicles from its Shanghai facility in 2023, marking a 33.3% increase from the previous year. This growth rate, while slightly lower than the industry average, is based on figures compiled by the China Passenger Car Association (CPCA). The industry group estimates that sales of China’s new energy vehicles, including battery EVs and plug-in hybrids, will rise 38% year-on-year to 8.9 million units in 2023. Secretary General Cui Dong Shu anticipates a 22% increase in that number to reach 11 million units this year. Intensifying competition in the Chinese auto market has exerted pressure on Tesla. The US carmaker was surpassed by BYD in deliveries of battery EVs by approximately 42,000 units from October to December. Despite this, Tesla maintained its top spot as the world’s best-selling BEV brand, with deliveries reaching 1.8 million units last year. In comparison, BYD sold a total of 3.02 million NEVs, of which 1.57 million were BEVs. [CPCA announcement, in Chinese]
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