This Shocking Company Just Passed Ford -- and Its Sales Could More Than Double
This Chinese EV maker has swept the globe with impressive sales momentum, surpassing Ford in the process -- and it's not done yet.
This Shocking Company Just Passed Ford -- and Its Sales Could More Than Double
Overview
When Tesla energized the entire electric vehicle (EV) industry, investors weren't sure whether another company could match its expansion rate. It was commonplace for headlines and analysts to ask: Is (insert name of EV maker) the next Tesla? It turns out, there was indeed a similarly impressive EV maker out there growing rapidly: BYD (OTC: BYDDY). BYD has quickly climbed the leaderboard of the world's best-selling automakers, not just in EVs, and it believes it can more than double its sales.
Image source: BYD Co.
It seems like it was only yesterday that BYD switched to selling only electric vehicles (EVs), including plug-in hybrids, in 2022, and its rapid growth has been quite impressive. It overtook Tesla last year to become the top-selling global EV maker, but more impressive was that it also overtook Ford Motor Company (NYSE: F) in global automotive sales on its way to recording 4.6 million vehicles sold, good enough to become the sixth-largest automaker by that measure.
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Originally published at www.fool.com.
