Tesla Faces Crowded Field in China as New-Energy Car Market Booms

SINGAPORE—China’s homegrown new-energy car makers are booming as demand surges, with gross sales now forecast to hit a file six million this yr on this planet’s largest auto market.

Warren Buffett-backed BYD which has emerged as a formidable rival to Tesla greater than tripled its gross sales of passenger automobiles in July to greater than 162,000 autos from a yr earlier, the China Passenger Car Affiliation stated Tuesday. BYD’s personal information exhibits about half of these have been pure electrical and the remaining hybrids.