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as we all know, in 2022, byd made a major decision, that is, to stop selling gasoline vehicles from march and focus on pure electric vehicles and plug-in hybrid vehicles.

why did byd do this? this is because byd predicted the future development trend of automobiles and believed that new energy is the future, so it decided to go all in on new energy and take a gamble.

this time, byd completely won the bet. only two years have passed from 2022 to now, and byd has already defeated tesla.

you should know that in 2021, byd's pure electric and plug-in hybrid sales were 321,000 and 273,000 respectively, totaling 594,000 (new energy passenger cars). in addition, it also sold 136,000 fuel vehicles.

in 2021, tesla's global sales reached 936,000 vehicles. byd's sales of new energy vehicles were equivalent to 63.4% of tesla's, of which sales of pure electric vehicles were only 34.3% of tesla's.

but by the first half of 2024, byd's pure electric and plug-in hybrid sales were 726,000 and 881,000 respectively, totaling 1.607 million (new energy passenger vehicles).

in the first half of 2024, tesla's total sales volume was 831,000 vehicles, which means that byd's sales volume was 193.4% of tesla's, nearly twice as much.

in addition to sales, byd has also surpassed tesla in other aspects. the gross profit margin, which best reflects the cost control and profit level of an automobile company, has also been rising. in 2021, byd's gross profit margin was only 17.4%. by the first half of 2024, it had reached 23.9%, and is steadily increasing.

as for tesla, its gross profit margin was as high as 26.5% in 2021, but then continued to decline. by the first half of 2024, it was only 14.8%, 9.1 percentage points lower than byd. judging from the development trend, it is moving in the opposite direction of byd, with one increasing and the other decreasing.

of course, from the perspective of market value, tesla's market value is 673.2 billion us dollars (4.78 trillion yuan), and its dynamic price-earnings ratio is 54 times. byd's market value is only 729.2 billion yuan, only about one-sixth of tesla's, and its dynamic price-earnings ratio is about 22.4 times, which is also lower than tesla.

this means that tesla's current valuation is still much higher than byd's, and behind this is the recognition of everyone. as for why, after all, tesla has a better brand image, is less affected by global trade barriers, and has a higher technological content in everyone's mind.

this is also the direction that byd will work towards in the future, especially in terms of brand image and technological content. if it can match tesla, then its future will be limitless.