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Tesla again on second rank in global EV market, this Chinese company is giving tough competition

Sales of Electric Vehicles (EV) are increasing worldwide. Global passenger EV sales grew by nearly 71 percent in the third quarter of the current year. Competition is also increasing in this market. In this, the American company Tesla, which has been at the top for many years, has been in second place for the second consecutive quarter.

As Counterpoint reports, EV China continues to be the market with the largest sales. Then there are Europe and America. EV sales in China more than doubled to over 1.7 million units. It was around 8.8 lakh units in the same quarter last year. China’s automobile company BYD has further strengthened its first position. It has also widened its gap with Tesla. BYD shipped over 5.37 lakh EV units. This is an increase of 197 percent on a year-on-year basis. Tesla’s sales were up 43 percent to a little over 3.43 lakh units. The demand for the company’s vehicles has increased in Europe.

Tesla delivered a record number of Model Ys in Germany in the third quarter. company has benefited from increased production at its Berlin factory. However, the total delivery of its vehicles has been lower than expected due to logistical issues. The third place in the global EV market was occupied by another Chinese company, Wuling. Its sales have increased by 31 percent. Tesla’s Model Y has been the best selling. The company’s chief executive Elon Musk has delivered Tesla’s first heavy duty semi truck to global cola company PepsiCo. However, Musk has not given any information about the pricing or production of this cargo truck.

Present at the event organized at the company’s plant, Musk said that this battery-powered long-distance truck will reduce emissions on the highway. He said that it is better than diesel trucks in power and safety. It uses a fast charging technology that will also be in Tesla’s upcoming Cybertruck pickup. He said Tesla had announced plans to develop an all-electric truck about five years ago and industry experts were skeptical about whether battery-powered electric trucks would be able to push hundreds of miles with heavy loads.

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