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Warren Buffett-backed Chinese automaker BYD dethrones Tesla as No. 1 in new electric vehicle sales

News Snapshot:

– Chinese automaker BYD dethroned Tesla as the leader in global new electric vehicle (NEV) sales in the first six months of this year. – The Shenzhen-based company sold over 640,000 vehicles from January through June, while Tesla sold 564,000. – Tesla exclusively sells fully electric cars while BYD’s car sales include hybrid cars with gasoline engines. – Tesla has blamed its sales performance on supply chain issues due to COVID-19, while BYD is predicted to have remained largely unaffected because it produces many of its parts in-house. – Billionaire Warren Buffet’s company, Berkshire Hathaway, was an early investor in…

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