BYD powers past Geely as oil shock charges up global EV demand
AI Summary
BYD has overtaken Geely as China's leading carmaker amid a global energy crisis that has increased electric vehicle demand. The US-Israel war with Iran sharply raised oil prices, boosting BYD's overseas deliveries by 76% year-on-year.
The global energy crisis has helped propel BYD back into pole position in China’s automotive sector, allowing it to regain ground on Geely Auto as demand for battery-powered vehicles accelerates worldwide. The Shenzhen-based electric vehicle (EV) maker, which lost its title as mainland China’s largest carmaker in the first quarter of 2026, rebounded strongly in the following two months as the US-Israel war with Iran drove up oil prices. Its overseas deliveries surged 76 per cent year on year to...