China's BYD is set to overtake Elon Musk's Tesla as the world's biggest seller of electric vehicles (EVs), marking the first time it has outpaced its American rival for annual sales.
On Thursday, BYD announced that sales of its battery-powered cars rose last year by almost 28% to more than 2.25 million. Tesla, which is due to reveal its total sales for 2025, last week published estimates suggesting it sold around 1.65 million vehicles for the whole year.
Tesla has faced a tough year with a mixed reception to new offerings, concerns over Musk's political activities, and growing competition from other Chinese manufacturers.
Despite BYD's rapid expansion, the firm also saw its sales growth slow in 2025, facing fierce competition in its home market from companies like XPeng and Nio. Nevertheless, BYD remains a global powerhouse, often undercutting rivals with its pricing.
BYD has notably surged in markets beyond China, particularly in the UK, where sales spiked by 880% in the past year due to demand for the plug-in hybrid version of its Seal U SUV. This impressive growth comes despite tariffs on Chinese EVs in various countries.
On Thursday, BYD announced that sales of its battery-powered cars rose last year by almost 28% to more than 2.25 million. Tesla, which is due to reveal its total sales for 2025, last week published estimates suggesting it sold around 1.65 million vehicles for the whole year.
Tesla has faced a tough year with a mixed reception to new offerings, concerns over Musk's political activities, and growing competition from other Chinese manufacturers.
Despite BYD's rapid expansion, the firm also saw its sales growth slow in 2025, facing fierce competition in its home market from companies like XPeng and Nio. Nevertheless, BYD remains a global powerhouse, often undercutting rivals with its pricing.
BYD has notably surged in markets beyond China, particularly in the UK, where sales spiked by 880% in the past year due to demand for the plug-in hybrid version of its Seal U SUV. This impressive growth comes despite tariffs on Chinese EVs in various countries.
