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Automobiles

BYD cuts into Tesla's lead in global EV sales, reaching No. 2

Hyundai also gained ground in first half as U.S. drivers went electric

BYD's sales of electric vehicles more than tripled on the year in the first half of 2022.   © Reuters

TOKYO -- China's BYD became the world's No. 2 seller of electric vehicles globally for the first six months of 2022 on the strength of lower-priced models, trailing only Tesla, while the Hyundai Motor group rose to fifth, in a Nikkei ranking.

BYD, which was fourth in 2021, sold 324,000 EVs in the January-June half to pass Chinese rival SAIC Motor and Volkswagen. The Berkshire Hathaway-backed company ended production of gasoline-powered vehicles in March to focus on electrics and plug-in hybrids.

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