![]() To support this initiative, Tesla is planning a multi-billion dollar factory in Mexico capable of producing 1 million cars a year. The company is targeting annual production of 20 million cars by 2030, meaning it will need to keep yearly growth rates in the high double digits for the rest of the decade. Whether these Chinese brands can maintain their triple digit growth figures is uncertain, but one thing is clear: Tesla is facing more competition than ever before. Tesla increased its output by a respectable 40% in 2022, staying ahead of Western brands like Volkswagen (+10%) and GM (+13%), but falling behind its Chinese rivals such as Geely (+251%). The company is also building a factory in Thailand, to produce right-hand drive models for markets like Australia, New Zealand, and the UK. The company is planning a major push into Europe, where it expects to build factories in order to avoid EU tariffs on Chinese car imports. Given this trajectory, the company will likely become the world’s first automaker to produce over 2 million EVs in a single year.īYD has a limited presence in non-domestic markets, but this could change rather quickly. □□ □□ Renault-Nissan-Mitsubishi AllianceīYD Auto has leaped past Tesla to become the new EV king, boosting its output by a massive 211% in 2022. Volume figures for 2021 were included for convenience. The raw data we used to create this infographic is listed below. ![]() The color of each brand’s bubble represents their growth from 2021, with the darker shades depicting a larger percentage increase. In this infographic, we’ve used data from EV Volumes to visualize the top 15 brands by output. This represents a sizable bump up from 2021’s figure of 6.7 million. Global EV Production: BYD Surpasses TeslaĢ022 was another historic year for EVs, with annual production surpassing 10 million cars for the first time ever.
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