In February, BYD regained its standing as Thailand’s top-selling electric vehicle (EV) brand, however, Tesla is rapidly narrowing the gap.
As the EV industry continues to expand, the competition between BYD and Tesla has been heating up. According to statistics from Thailand’s Department of Land Transport, BYD sold 1,848 electric cars in February, a slight increase from its January total of 1,827. Tesla, meanwhile, sold 1,722 units, up from 1,466 in January.
The two brands are now neck-and-neck in the EV market, with BYD edging out Tesla by a mere 126 vehicles. It marks a significant shift from the previous month, when the Chinese brand held a commanding lead of 361 cars.
The competition between the two companies is likely to continue as the EV industry continues to grow. Analysts anticipate that the number of EV sales could reach as high as 3,000 units in March, as more consumers become aware of the advantages of electric vehicles.
Both BYD and Tesla have been expanding their presence in Thailand. BYD recently announced the opening of its second EV dealership in the country, while Tesla has been working to create an extensive network of charging stations to support its vehicles.
The increased competition between the two brands is likely to benefit Thai consumers, as both companies look to differentiate themselves through innovative products and services. For now, BYD remains ahead in the race for Thailand’s EV market, but Tesla is quickly closing in.