BYD Wants To Beat Tesla As World's Top EV Maker

The Chinese automaker BYD is targeting to double capacity in a push to reach 3.6 million electric vehicles (EVs) sold globally and topple Tesla from its pedestal, Nikkei reported.

Photo Insert: BYD plans to release the U9 supercar under the luxury brand Yangwang as well as a number of other models and oust Tesla in the Chinese and other EV markets as well.

BYD plans to release the U9 supercar under the luxury brand Yangwang as well as a number of other models and oust Tesla in the Chinese and other EV markets as well, Yusuke Hinata reported for Nikkei.

"Our goal starts at 3 million units," BYD Chairman Wang Chuanfu said at an investors conference in Hong Kong late last month.

But he added that BYD hoped to double last year's sales volume to reach 3.6 million units. The higher figure includes exports. BYD also lags behind Volkswagen as China's top automaker.

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