China’s electric vehicle champion BYD is on course to overtake Tesla as the world’s biggest seller of battery-electric cars, marking a symbolic shift in the global EV race.
The Shenzhen-based group said annual sales of its battery-powered vehicles jumped by almost 28 per cent last year to more than 2.25 million units. By contrast, Tesla is expected to report full-year sales of around 1.65 million vehicles when it releases its 2025 figures later on Friday, based on analysts’ forecasts published last week.
If confirmed, it would be the first time BYD has overtaken its American rival on an annual basis, underlining the rapid rise of Chinese manufacturers in a market long dominated by Western brands.
The milestone caps a difficult year for Tesla, which has grappled with a lukewarm reception to newer models, intensifying competition from lower-priced Chinese rivals and growing unease among some consumers and investors over the political activities of its chief executive, Elon Musk.
Chinese carmakers including BYD, Geely and MG have steadily eroded Tesla’s market share by offering well-specified electric cars at significantly lower prices. In response, Tesla launched cheaper versions of its two best-selling models in the US in October in a bid to reignite demand.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
