“China’s BYD Set to Surpass Tesla as World’s Largest Electric Vehicle Seller”

According to Rokna, citing BBC, on Thursday, BYD reported that sales of its battery-powered vehicles rose nearly 28% last year, reaching more than 2.25 million units. Tesla, which is expected to release its full 2025 sales figures on Friday, previously published analysts’ estimates suggesting it sold around 1.65 million vehicles for the year.

The US company faced a challenging year, dealing with mixed reactions to new models, concerns over Musk's political involvement, and mounting competition from Chinese rivals. Companies such as Geely, MG, and BYD—now China’s largest electric carmaker—have pressured Western competitors by offering lower-priced vehicles.

In October, Tesla responded by introducing lower-cost versions of its two top-selling models in the US to boost sales.

Musk, already the world's wealthiest individual, is tasked with significantly increasing Tesla’s sales and market value over the next decade to secure a record-setting compensation package. Approved by shareholders in November, the deal could yield him up to $1 trillion (£740 billion). As part of the agreement, Musk must also sell one million humanoid robots over the next ten years. Tesla has heavily invested in its “Optimus” robot and self-driving “Robotaxi” projects.

Tesla’s sales dipped during the first quarter of 2025, partly due to criticism of Musk’s involvement in the Trump administration. Beyond Tesla, Musk’s business ventures include the social media platform X, the rocket company SpaceX, and the tunnel construction firm The Boring Company. These responsibilities, along with overseeing Trump’s Department of Government Efficiency (Doge), led some investors to question Musk’s focus on Tesla. Since then, he has pledged to significantly reduce his role in government.

Despite BYD’s rapid growth in recent years, its sales increase slowed in 2025, hitting its lowest rate in five years, partly due to intense competition in China. Nevertheless, BYD remains a major global EV player, often pricing its cars below rival manufacturers.

The Shenzhen-based company’s fast expansion—especially in Latin America, Southeast Asia, and parts of Europe—continues despite high tariffs imposed by some countries on Chinese EVs. In October, BYD reported that the UK had become its largest market outside China, with sales soaring 880% by the end of September, largely driven by strong demand for the plug-in hybrid version of its Seal U SUV.