China’s BYD set to overtake Tesla as world’s top EV seller

Chinese electric vehicle (EV) manufacturer BYD is set to overtake Elon Musk’s Tesla as the world’s largest EV seller, marking the first time it will surpass its American rival in annual sales.

On Thursday, BYD reported that its battery-powered car sales rose nearly 28% in 2025, reaching more than 2.25 million units.

Tesla, which will release its full 2025 sales figures later this week, is estimated by analysts to have sold around 1.65 million vehicles for the year.

The US automaker has faced a challenging year due to mixed reception of new models, concerns over Musk’s political activities, and rising competition from Chinese manufacturers. Companies like BYD, Geely, and MG have pressured Western brands by offering vehicles at lower prices.

In response, Tesla launched more affordable versions of its two top-selling US models in October to boost sales.

Musk, already the world’s richest person, is under pressure to increase Tesla’s sales and market value to qualify for a massive pay package, potentially worth up to $1 trillion (£740 billion) over the next decade. The agreement also includes ambitious targets, such as selling one million humanoid robots, with investments in Tesla’s “Optimus” robot and self-driving “Robotaxis.”

Tesla experienced a sales decline in the first quarter of 2025, partly due to public backlash over Musk’s involvement in US government activities. His business interests—including SpaceX, X (formerly Twitter), the Boring Company, and brief government roles—have raised concerns that he might be distracted from Tesla. Musk has since pledged to reduce his government involvement.

Despite slowing growth in 2025, BYD remains a global EV powerhouse, often offering lower prices than competitors. The Shenzhen-based company has expanded rapidly in Latin America, Southeast Asia, and parts of Europe, even amid high tariffs on Chinese EVs.

BYD announced in October that the UK had become its largest market outside China, reporting an 880% sales increase over the year, largely driven by demand for the plug-in hybrid version of its Seal U SUV.

Source: Theghanareport.com