China's BYD strips Tesla of its title as the world's top electric car maker

Elon Musk's Tesla has ceased to be the world's largest manufacturer of electric vehicles. Reports for the first half of 2022 showed that it was outpaced by the Chinese BYD, in which Warren Buffett invests. More than 77,000 electric vehicles have rolled off the assembly lines of the Shenzhen-based manufacturer, according to The Financial Times.

Compared to last year, BYD's sales are up 315% with 640,000 electric vehicles sold in six months. Tesla delivered 564,000. Tesla management attributed the not-so-good performance to problems caused by the pandemic: lockdowns disrupted supply chains and caused disruption to sales in China. Nevertheless, Tesla's performance is 27% higher than last year, and in June the company reached a record performance for itself. Now Tesla is trying to ramp up production at two giant new factories in Austin, Texas, and in Germany, which Elon Max called "giant money ovens."

In addition, Cars.com last month named two Tesla models, the Model Y compact SUV and the Model 3 compact sedan, the best American-made cars.