Move Over Tesla! 

Elon Musk’s Tesla is no longer the king of electric vehicles, according to the July 5 edition of Great Stuff. “That crown now belongs to BYD Motors,” the publication asserted, and Warren Buffett’s Berkshire Hathaway controls a 7.7% stake in it. “It’s very telling that the Oracle of Omaha didn’t take that same stake in Tesla.”

In Q2, Tesla delivered 254,695 vehicles. In the same period, BYD’s deliveries stood at 355,021. Take a look at this chart from Investor’s Business Daily:

In fairness, BYD sells hybrids, not pure EVs. But as was pointed out by Graham Conway in the  TED Talk we linked to in Tuesday’s issue, there is good reason to believe that hybrid vehicles will endure, including the fact that they are currently more eco-friendly than EVs. (If you missed it on Tuesday, click here.)