Tesla vs BYD: Who is currently leading in EV production?
In Q4 2023, Tesla reported delivering 485,000 vehicles while BYD delivered more than half a million units.
Tesla and BYD are two of the world's largest electric vehicle (EV) manufacturers.
Tesla and BYD are two of the world's largest electric vehicle (EV) manufacturers. In Q4 2023, Tesla reported delivering 485,000 vehicles while BYD delivered more than half a million units. However, in terms of fully electric cars sold for the first time in three months to December 31th and sales lead held throughout the year as a whole, BYD overtook Tesla. This marks a significant shift in power within the EV industry.
BYD may overtake Tesla as the world's biggest electric vehicle maker after it surpassed Tesla's fourth-quarter production.
Tesla produced around 484,000 units in the final quarter of 2023 and BYD sold more than 526,000 vehicles in the same quarter. When accounting for plug-in hybrids, BYD has already surpassed Tesla.
Tesla announced sales of 1.84 million pure EV cars while BYD has sold 1.6 million pure EV and 1.4 million hybrid EV cars.
China wants its two biggest electric vehicle makers to generate 10% of their sales overseas by 2025 but has not indicated which companies that would include though, analysts believe BYD must be one of those two due to production and sales volume.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(30%)
The article is deceptive in several ways. Firstly, it states that BYD surpassed Tesla's fourth-quarter production by selling more than 526,000 vehicles in the same quarter. However, this statement is misleading because it only accounts for pure EV units and not plug-in hybrids which are also considered electric vehicles. When accounting for both types of vehicles, Tesla still has a higher market share than BYD. Secondly, the article states that China wants its two biggest EV makers to generate 10% of their sales overseas by 2025 but does not specify which companies will be included in this requirement. However, analysts believe that BYD must be one of those two due to production and sales volume. This statement is deceptive because it implies that the Chinese government has a specific plan for EV makers' international expansion when no such plan has been announced.
BYD surpassed Tesla's fourth-quarter production by selling more than 526,000 vehicles in the same quarter. However, this statement is misleading because it only accounts for pure EV units and not plug-in hybrids which are also considered electric vehicles.
The article states that China wants its two biggest EV makers to generate 10% of their sales overseas by 2025 but does not specify which companies will be included in this requirement. However, analysts believe that BYD must be one of those two due to production and sales volume.
Fallacies
(70%)
The article contains several fallacies. The author uses an appeal to authority by stating that BYD has surpassed Tesla in sales of pure EV units and hybrid EV cars without providing any evidence or sources for this claim. Additionally, the author makes a false dilemma by suggesting that China wants its two biggest EV makers to generate 10% of their sales overseas by 2025 but does not indicate which companies will be included in this requirement.
BYD has surpassed Tesla in sales of pure EV units and hybrid EV cars.
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (50%)
Peter Aitken has conflicts of interest on the topics of BYD and Tesla as Berkshire Hathaway owns BYD. Additionally, there is a focus on European markets for both companies which could lead to bias in reporting.
Berkshire Hathaway ownership of BYD
intense focus on European markets for Tesla and BYD
Tesla recall of 2 million vehicles in the U.S.
Author
Conflicts
Of
Interest (50%)
Peter Aitken has conflicts of interest on the topics of BYD and Tesla as Berkshire Hathaway owns BYD. Additionally, there is a focus on European markets for both companies which could lead to bias in reporting.
Berkshire Hathaway ownership of BYD
European Commission President Ursula von der Leyen's argument on artificially low vehicle prices thanks to state subsidies
General Motors (GM) sues San Francisco over $121 million tax bill linked to cruise president
intense focus on European markets for Tesla and BYD
Toyota subsidiary production shutdown due to safety test irregularities
BYD overtook Tesla as the world's top seller of electric vehicles (EV) at the end of last year
It delivered more fully electric cars than Tesla for the first time in a three-month period to December 31, and slashed the sales lead held by Elon Musk's company over the year as a whole
Based in Shenzhen, China, BYD was founded in 1995 by Wang Chuanfu
Wang says that letters BYD don't stand for anything specific and he chose it to set his company apart from other startups
China is the top EV producer and exports electric taxis, buses, and other vehicles to the rest of the world including Europe, South America, Southeast Asia, and the Middle East
Israel and Thailand are BYD's major overseas markets where it ranks number one in EV sales
The best-selling passenger cars from BYD are Qin and Song models. The Qin is a compact sedan available as a plug-in hybrid or an all-electric car, while the Song is a series of compact crossover SUVs.
Compared to Tesla, BYD offers more affordable cars which helped it attract wider group of consumers
BYD's passenger cars are not yet available in the United States but its electric buses made in Lancaster, California are sold there
Wang is an engineer who first moved to Shenzhen in early 1990s to run a battery making business for a Beijing-based government research institute and later founded BYD
The start of his entrepreneurial journey coincided with the opening of Chinese economy to the world. Deng Xiaoping had set up China's first special economic zone in Shenzhen which encouraged hundreds manufacturing businesses to flock there due its liberal economic policies and cheaper labor and land costs.
By 1997, Wang had grown his small workshop into a medium-sized cellphone battery maker with more than $14 million annual sales
The Asian financial crisis provided growth opportunity as plunging battery prices pushed many competitors out of business. BYD was able to survive due to its cost advantage.
By 2003, BYD had become the world's largest producer of nickel-cadmium batteries which were widely used in mobile phones
In 2015, BYD surpassed Tesla as China's biggest EV maker and has been dominating the Chinese market ever since.
One of key advantages against Tesla is price. The cheapest Tesla model has a starting price of $32,375 while BYD Seagull starts at $10,392.
Both companies have received safety ratings from international organizations. In 2021, Tesla's Model Y and BYD's Atto 3 received five-star ANCAP rating respectively
Since 2015, BYD has been making its lithium iron phosphate battery (LFP) called Blade Batteries for use in its own cars and sale to other auto makers such as Toyota.
BYD's blade-shaped battery is thinner and longer lasting than conventional lithium iron cells, maximizes the use of available space within the battery pack, less likely to catch fire even when severely damaged
Tesla also reportedly uses BYD Blade Batteries for its Y cars produced in Berlin Gigafactory according to German media.
In March 2023, Elon Musk denied a media report saying Tesla was ending cooperation with BYD on battery supply.
Accuracy
By 2003, BYD had become the worlds largest producer of nickel-cadmium batteries which were widely used in mobile phones
In 2008, Wang received a $23 million investment from Warren Buffett who paid about $1 per share for a stake of around 10% and helped boost company stock by as much as 1,370% over the next year.
BYD launched its first plug-in hybrid model at the end of 2008
Since then, BYD has taken off as an EV manufacturer partly thanks to Chinese government's support for industry
Buffett has been gradually trimming his stake in BYD since 2019 and now holds nearly $3 billion worth shares.
BYD dominates the Chinese EV market since 2015, when it surpassed its domestic and overseas rivals in China's biggest car market
Deception
(70%)
BYD is a Chinese EV giant that overtook Tesla as the world's top seller of electric vehicles (EV) at the end of last year. The company was founded in 1995 by Wang Chuanfu and has since become China's top EV producer, exporting electric taxis, buses and other vehicles to various countries including Europe, South America, Southeast Asia and the Middle East. Unlike Tesla (TSLA), BYD also makes plug-in hybrids. The company is known for offering more affordable cars which helped it attract a wider group of consumers. Its entry-level model sells in China for just over $10,000; the cheapest Tesla Model 3 costs more than $32,000.
BYD is known for offering more affordable cars which helped it attract a wider group of consumers. Its entry-level model sells in China for just over $10,000; the cheapest Tesla Model 3 costs more than $32,000.
Unlike Tesla (TSLA), BYD also makes plug-in hybrids.
Fallacies
(85%)
The article contains several examples of informal fallacies. The author uses an appeal to authority by citing Warren Buffett's investment in BYD as evidence of the company's success. This is a form of hasty generalization because it assumes that Buffett's investment is proof that BYD is successful, without providing any other evidence or context for his decision-making process.
Warren Buffett invested in BYD and this proves their success.
Bias
(85%)
The article is biased towards BYD as it portrays the company in a positive light and highlights its achievements. The author uses language that deifies BYD's founder Wang Chuanfu and his accomplishments, such as calling him an engineer who first moved to Shenzhen in the early 1990s to run a battery making business for a Beijing-based government research institute.
Wang says the letters BYD don't stand for anything in particular. He said he chose a “rather strange” name to set it apart from other startups.
Site
Conflicts
Of
Interest (50%)
BYD is a Chinese electric vehicle (EV) manufacturer that has been in business since the early 1990s. They have become one of China's top EV producers and export their vehicles to other countries including Europe, South America, Southeast Asia and the Middle East. BYD also ranks number one in EV sales in Israel and Thailand.
BYD is a Chinese electric vehicle (EV) manufacturer that has been in business since the early 1990s.
Author
Conflicts
Of
Interest (50%)
BYD is a Chinese electric vehicle (EV) manufacturer that has been in business since the early 1990s. The company's founder, Wang Chuanfu, started his entrepreneurial journey coincided with the opening of Chinese economy to world and Deng Xiaoping's special economic zone in Shenzhen. BYD is China's top EV producer and exports electric taxis, buses and other vehicles to the rest of the world including Israel and Thailand where it ranks number one in EV sales.
BYD is a Chinese electric vehicle (EV) manufacturer that has been in business since the early 1990s. The company's founder, Wang Chuanfu, started his entrepreneurial journey coincided with the opening of Chinese economy to world and Deng Xiaoping's special economic zone in Shenzhen.
BYD is China's top EV producer and exports electric taxis, buses and other vehicles to the rest of the world including Israel and Thailand where it ranks number one in EV sales.
Tesla lost the crown as the world's largest manufacturer of electric vehicles to BYD in Q4 2023.
BYD delivered more fully electric cars than Tesla for the first time in a three-month period to December 31, and slashed the sales lead held by Elon Musk's company over the year as a whole.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(30%)
The article is deceptive in several ways. Firstly, the title claims that Elon Musk has lost the crown as world's largest EV maker to Warren Buffett-backed BYD. However, this statement is misleading because it implies that BYD has surpassed Tesla in sales for a full year when only one quarter of data is available. In reality, Tesla still leads in overall sales for 2023 and the article should have been more accurate about the time frame being discussed. Secondly, the author uses sensationalist language such as
The brand confirmed Wall Street's expectations on Tuesday that it had been eclipsed by Chinese rival BYD in the final months of 2023 for the first time ever in a quarter.
Fallacies
(70%)
The article contains several fallacies. The first is an appeal to authority when it states that Tesla has lost the crown as the world's largest manufacturer of electric vehicles. This statement assumes that being the largest EV maker automatically makes a company better or more successful than others, which is not necessarily true. Additionally, this claim relies on Wall Street expectations and does not provide any evidence to support it. The second fallacy found in the article is inflammatory rhetoric when it states that Elon Musk's air of invulnerability has been punctured by BYD outselling Tesla. This statement exaggerates the significance of this event and implies that Tesla's success was solely based on Musk, which is not accurate. The third fallacy found in the article is a dichotomous depiction when it states that BYD delivering 1.59 million fully electric vehicles in 2023 could easily eclipse Tesla on a full-year basis this year if it maintains anything near its current pace. This statement implies that either BYD will succeed or Tesla will fail, which is not necessarily true.
The article states that Elon Musk's air of invulnerability has been punctured by BYD outselling Tesla. This statement exaggerates the significance of this event and implies that Tesla's success was solely based on Musk, which is not accurate.
The article states that being the largest EV maker automatically makes a company better or more successful than others, which is not necessarily true.
Bias
(85%)
The article contains examples of religious bias and monetary bias. The author uses language that dehumanizes those who hold different beliefs about the importance of electric vehicles (EVs) than he does. He also implies that BYD's success is due to government support rather than its own merits, which could be seen as an attack on free market principles.
The author uses language like 'the brand confirmed Wall Street expectations on Tuesday that it had been eclipsed by Chinese rival BYD in the final months of 2023 for the first time ever in a quarter.' This implies that BYD's success is due to government support rather than its own merits.
The author uses language like 'the entrepreneur himself has convinced many of his devoted retail investors that selling 20 million cars annually (10 times the current capability) is a realistic target by the end of this decade.' This implies that BYD's success is due to government support rather than its own merits.
The author uses language like 'the entrepreneur's $800 billion megacap carmaker is worth ten times the value of BYD, and maintaining a high double-digit rate of vehicle sales growth is a fundamental pillar in Tesla's narrative.' This implies that BYD's success is due to government support rather than its own merits.
Site
Conflicts
Of
Interest (50%)
Christiaan Hetzner has a conflict of interest with BYD as he is reporting on the company's sales figures and market position against Tesla. He also has a personal relationship with Elon Musk as they are both in the electric vehicle industry.
Christiaan Hetzner also has a personal relationship with Elon Musk as they are both in the electric vehicle industry. He mentions Musk's aspirations for Tesla sales and how Wall Street analysts expect annual Tesla sales to increase, which could indicate that he is biased towards the company.
The article also discusses Christiaan Hetzner's previous reporting on Elon Musk and his claims about slashing prices on cars due to consumer demand. This suggests that he may have a personal relationship with Musk or be influenced by him in his reporting.
The article mentions that Christiaan Hetzner is reporting on the Q4 production, deliveries, and sales record of BYD. This suggests that he may have financial ties to the company or a personal interest in its success.
Author
Conflicts
Of
Interest (50%)
Christiaan Hetzner has a conflict of interest on the topic of Tesla as he is reporting for Fortune.com which is owned by Time Warner and AT&T, both companies have financial ties to the automotive industry.
Fortune.com is owned by Time Warner and AT&T, both companies have financial ties to the automotive industry.
Tesla reported 485,000 deliveries for the fourth quarter of 2023
Total annual deliveries in 2023 were 1.8 million
Total annual production in 2023 was also at a total of 1.8 million units
Tesla's Model Y entry-level SUV is expected to be the bestselling car on Earth for the year
The company delivered its refreshed Highland version of the entry-level Model 3 sedan in some markets during Q4 2023 and began deliveries of Cybertruck in December
Tesla slashed prices throughout last quarter to cope with economic uncertainty, higher interest rates, and shifting consumer sentiment
BYD sold a total of 3.02 million new energy vehicles in 2023 including battery-electric passenger cars and hybrid electric models
Some previous customers have declared plans not to buy from Tesla due to Elon Musk's incendiary remarks on Twitter
Tesla operates two vehicle assembly plants in the US, two overseas, a battery factory in Sparks Nevada and other facilities where it manufactures spare parts and charging equipment
The company also plans to construct another car plant in Nuevo León Mexico
Accuracy
BYD delivered more than 526,000 vehicles in the same quarter. When accounting for plug-in hybrids, BYD has already surpassed Tesla.
Tesla produced around 484,000 units in the final quarter of 2023 and BYD sold more than 526,000 vehicles in the same quarter. When accounting for plug-in hybrids, BYD has already surpassed Tesla.
Tesla announced sales of 1.84 million pure EV cars while BYD has sold 1.6 million pure EV and 1.4 million hybrid EV cars.
China wants its two biggest electric vehicle makers to generate 10% of their sales overseas by 2025 but has not indicated which companies that would include though, analysts believe BYD must be one of those two due to production and sales volume.
Deception
(100%)
None Found At Time Of
Publication
Fallacies
(85%)
The article contains an appeal to authority fallacy by citing the guidance provided by Tesla executives in their last earnings call. The author also uses inflammatory rhetoric when describing Musk's comments about the Cybertruck and his plans for growth in 2024.
Tesla execs offered guidance that the company would notch at least 1.8 million deliveries for the full year, a number they had revised down from a 2 million goal earlier.
Bias
(100%)
None Found At Time Of
Publication
Site
Conflicts
Of
Interest (50%)
Lora Kolodny has a conflict of interest with Tesla as she is reporting on their vehicle deliveries and production. She also reports on Elon Musk's antisemitic and racist remarks which could be seen as an endorsement for the company.
Lora Kolodny reports on Tesla's vehicle assembly plants in various locations including Sparks Nevada battery factory and other facilities where Tesla manufactures spare parts charging equipment big batteries for home or utility-scale energy storage.
Tesla reported 485,000 deliveries for the fourth quarter, bringing 2023 total to 1.8 million
White House condemnation of Elon Musk's antisemitic and racist remarks on Twitter, November 2023.
