Elon Musk’s Tesla no longer the world’s top seller of electric cars

The Warren Buffett-backed Chinese automaker BYD said this week its sales figures show Tesla's lead in the electric vehicle market is shrinking

According to a company filing, BYD sold 641,350 "new energy vehicles" in the first half of 2022, including full-battery electrics and plug-in hybrids

Compared to the same period one year earlier, that sales figure increased by 314%

According to the release, BYD sold more than 134,000 vehicles in June alone

During the first half of 2022, Elon Musk's Tesla sold 564,743 vehicles despite a lengthy shutdown at a Shanghai production plant and other supply chain disruptions

Berkshire Hathaway, Buffett's conglomerate, owned more than $9 billion worth of BYD shares as of April

In 2008, the company invested $232 million in the Chinese firm

In May, Musk said he expected some "very strong" Chinese companies to challenge Tesla in the electric vehicle sector