New Delhi . Tesla has posted unprecedented growth in one year. Electric vehicle (EV) shipments grew 79 percent year-on-year to 19.5 million units in the first quarter of 2022. This information was given in a new report. Of these, battery electric vehicles (BEVs) account for 73% and plug-in hybrid electric vehicles (PHEVs) account for 73%, according to market research firm Counterpoint.
Soumen Mandal, Senior Research Analyst, said in a statement, “With electric vehicles accounting for just 12 per cent of total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion. New players are entering the market to take advantage of this opportunity. are.”
“To counter the new entrants, existing players are using leading-edge technology for better batteries, better IVI systems and higher levels of ADAS in their EV models as key selling points,” Mandal said.
Tesla is currently the leader in the global EV market. The company’s shipments grew 68 per cent year-on-year in the first quarter and is expected to cross 1.3 million units by the end of 2022.
BYD Auto emerged as China’s top EV seller during Q1. Its EV shipments grew 433 percent year over year to reach more than 0.28 million units.
China continues to be the market leader in EV shipments, followed by Europe and the US. China’s EV shipments grew 126 percent in the first quarter of 2022 to more than 1.14 million units from just 0.5 million units in the first quarter of 2021.
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