Saturday, June 25, 2022
728x90-EN-BENEFIT-SEASON
Bitdefender WW

Tesla tops the Rankings as the Worlds Most Valuable Automaker with BYD Surprising everyone with their 3rd Spot Entry overtaking Volkswagen

- Advertisement -

According to the latest market value rankings, for manufacturers released Tuesday, Tesla (NASDAQ: TSLA) continues to dominate in overall value with a market cap of $740.58 billion (NYSE: TM). BYD (OTC: BYDDY), a Chinese electric car company, overtakes Volkswagen (OTC: VWAGY) to take the third position on the list with a total market value of $127.23 billion, the largest shift on the list.

Tesla, although being a newer company, has the potential to be more adaptive to market fluctuations. Tesla, for example, was able to overcome chip shortages in 2021 by altering some software and using alternate CPUs. Because of the diminishing market for consumer electronics chips, Tesla will have more discretion in chip purchases in 2022.

To assure lithium battery supplies, Tesla collaborated with Panasonic, LG Energy Solution (LGES), and CATL from a variety of countries. Tesla has more control over batteries than other automakers, even though battery supplies are limited.

Volkswagen, Mercedes-Benz (OTC: DDAIF), BMW (BIT: BMW), General Motors (NYSE: GM), Ford (NYSE: F), Stellantis (NYSE: STLA), and Honda are rated fourth through tenth, respectively (NYSE: HMC).

728x90-EN-BENEFIT-SEASON

BYD, the world’s first traditional automobile manufacturer, stated on April 3 that it would discontinue selling gasoline-powered vehicles and instead focus on pure electric and plug-in hybrid engine automobiles

In May of this year, BYD sold 114,183 vehicles, an increase of 152.8 percent year over year. BYD’s sales volume has increased rapidly since last year thanks to hybrid and pure electric vehicles. In 2021, BYD’s minimum monthly sales volume was a little over 20,000 units, but one year later, it had surpassed 120,000 units.

Since Musk disclosed his attempt to buy Twitter, Tesla’s stock has plunged by more than 35%. Despite this, the market valuations of Toyota and BYD, which are ranked second and third, are only about 30% and 20% of Tesla’s, respectively.

Despite a variety of challenges in the Chinese market, such as COVID-19 limits and material shortages, BYD’s production appears to be running smoothly, and the company has beaten its predecessors, Faw-Volkswagen and SAIC Volkswagen.

- Advertisement -

BYD is now the sole Chinese manufacturer among the world’s top ten automakers by market value. While BYD’s market worth and share price have risen largely due to its automobile production, the firm also has other projects such as mobile phone components and assembly, as well as solar and rechargeable units.

also read:

Apple M2 Max Chip to reportedly be launched with 10-Core CPU and 32-Core GPU

source

- Advertisement -
spot_img
Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

Bitdefender WW

More To Consider

Stay Connected

13,642FansLike
62FollowersFollow
156FollowersFollow
Myntra [CPS] IN

Hot Topics

spot_img

Latest Articles

Trending

Bigrock [CPS] IN

Featured

Adblocker detected! Please consider reading this notice.

We've detected that you are using AdBlock Plus or some other adblocking software which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We need money to operate the site, and almost all of it comes from our online advertising.

Please add technosports.co.in to your ad blocking whitelist or disable your adblocking software.

×