Tesla retakes battery power crown during a record-setting September

Tesla’s market valuation topped $1 trillion this week for the first time since April 2022 on expectations that CEO Elon Musk’s involvement with the incoming Trump administration will boost the prospects of the company’s much-hyped robotaxi ambitions. 

The surge in Tesla stock widened the gap to rival BYD to nearly $900 billion despite BYD extending its lead on a sales basis, selling some 200,000 more passenger vehicles than Tesla in September. However, on a combined battery capacity deployed basis, Tesla reclaimed the crown.  

Driven by another massive month on the Chinese market, September blew past the previous record set in December 2023 with battery capacity deployed in newly sold EVs worldwide hitting 84.5 GWh.

In September, the combined battery power of Tesla S-3-X-Y models and Cybertrucks sold during the month surpassed BYD at 13.8 GWh for a 16% share of the global market.

Year to date, there is little separating the two automakers with Tesla owners rolling 93.9 GWh of fresh power hours onto the world’s roads versus 93.4 GWh by BYD aficionados.  

Tesla’s Model Y and 3 workhorses occupied the number one and two spots globally in September, and the early success of the Cybertruck, with its beefy 122 kWh battery pack (and optional 47 kWh range extender), is helping to keep BYD at bay in GWh terms as the Shenzen-based company’s sales mix is increasingly skewing towards plug-in hybrids.  

In September this year, 56% of new BYD owners opted for a plug-in hybrid. During the same month last year, the split was in favor of full electric vehicles, like the best-selling Seagulls and Seals, at the same ratio.  

In September, the average PHEV sold globally sported a battery capacity of 22.9 kWh compared to the typical BEV which puts 62.6 kWh under drivers’ feet.

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