The Chinese underdog now market leader soars above Tesla in the first quarter of 2023 and achieves a market share of 21.1 %. The company has been navigating pivotal changes inthe industry , which have affected the supply chains between China and the US .

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With both countries looking to retain their own markets to allow their local industries to grow , China ’ s BYD is driving more adoption across all areas and has seen a great reception of its latest electrified car models .

In 2022 , BYD produced an incredible number of new energy vehicles , amounting to a total of 3.34 million units and a revenue of US $ 43.26bn ( CNY 324.7bn ).

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