The shortfall is partly because of a global slowdown in EV sales growth as well as issues specific to BYD. In Europe, BYD sold around 16,000 vehicles in 2023, according to registration data compiled by Jato Dynamics, below an internal target set the previous year for the continent. A BYD representative said The Wall Street Journal’s reporting was “inconsistent with facts.” The company didn’t provide details about the discrepancies. For now, the Chinese carmaker’s biggest export destinations are Thailand and Brazil, where it is the bestselling brand and driving EV growth in a nascent market. BYD sold more than 12,000 vehicles in Australia last year, one of its bright spots overseas.

Source: Wall Street Journal March 15, 2024 12:21 UTC