Tesla’s Worst Nightmare: How BYD Became the New EV King | Lithium Mines

This video was first publish on Car Coach Youtube Chanel

China’s BYD will ‘Destroy’ EV market if it sells vehicles in the US. An expert warns as BYD outsells Tesla in latest quarter. China’s top electric car maker, BYD, has outsold Tesla. Making it the biggest EV company in the final quarter of 2023.
It sold around 525,000 cars, while Tesla sold around 485,000. Both record quarters for the companies.
Lauren Fix, an automotive expert at Car Coach Reports, gives her take on the result.

Tesla announced it had "produced approximately 495,000 vehicles and delivered over 484,000 vehicles" for Q4. The company noted that its full year vehicle delivery number was up 38% to 1.81 million, slightly less than recently revised expectations for the year. Nonetheless, total deliveries mark a record quarter for the EV manufacturer. The company manufactured approximately 1.85 million vehicles for the period. 

Speaking of electric cars, battery material has been a huge issue. The U.S. Department of Energy has discovered a massive lithium deposit beneath California's Salton Sea, potentially making the U.S. self-sufficient in this critical battery metal and impacting the global lithium market. This could help supplement existing sources of lithium. Timothy Kelly, President of Imperial Valley Economic Development Corporation explains. The costs, environmental impact and government regulations will be part of the consideration and costs.

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00:00 #tesla Worst Nightmare: #byd sales
00:23 Lauren Fix explains
01:58 #california #lithium #mining

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