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China’s BYD is poised to surpass Elon Musk’s Tesla as the top seller of electric vehicles (EVs) globally, marking the first occasion it has exceeded its American competitor in annual sales.
On Thursday, BYD announced that its sales of battery-operated cars increased by nearly 28% last year, totalling over 2.25 million.
Tesla, which is expected to disclose its total sales for 2025 later today, estimated last week that it sold approximately 1.65 million vehicles throughout the year. The American company has had a challenging year, facing mixed reactions to new products, concerns about Musk’s political involvement, and growing competition from Chinese manufacturers.
Companies like Geely, MG, and BYD, now the largest electric vehicle producer in China, have exerted pressure on Western brands by pricing their vehicles competitively.
In October, Tesla responded by launching more affordable versions of its two best-selling models in the US to stimulate sales.
Tesla’s sales dropped in the first three months of 2025 after adverse reactions to Musk’s involvement in US President Donald Trump’s administration. In addition to Tesla, Musk’s extensive business ventures encompass the social media platform X, the aerospace company SpaceX, and the Boring Company, which constructs tunnels.
These engagements, along with overseeing Trump’s Department of Government Efficiency (Doge), have prompted some investors to express concerns that Musk is not dedicating enough attention to Tesla. Since then, Musk has committed to significantly reducing his involvement in the US government.
Despite BYD’s growth in recent years, its sales expansion decelerated in 2025, reaching the slowest pace in five years due to intense competition in China, its primary market. Nevertheless, BYD remains a dominant force in the global EV market, frequently offering lower prices than its competitors.
In October, BYD reported that the UK had emerged as its largest market outside of China, with sales in Britain soaring by 880% in the year ending September, fueled by robust demand for the plug-in hybrid version of its Seal U sports utility vehicle (SUV).
