BYD, a Chinese electric vehicle manufacturer, saw a dramatic increase in sales during the second half of 2024, fueled by domestic subsidies promoting electric vehicle adoption. The company aims to surpass Tesla as the world's leading EV producer. BYD sold 207,734 EVs in December, bringing its total sales for 2024 to 1.77 million. While Tesla still holds a slight lead in EV sales, BYD's rapid growth is closing the gap.
BYD is aiming to overtake Tesla as the world’s leading EV producer. BYD , the Chinese hybrid and electric vehicle maker, saw its sales surge in the second half of 2024 – aided by domestic subsidies aiming to entice drivers to ditch fossil fuel-powered cars.saw a massive spike towards the end of the year, as it competes with Tesla to be the world’s best-selling electric vehicle maker.The company says it sold 207,734 EVs in December, taking its 2024 tally to 1.77 million. Overall, it sold 4.
BYD’s recent gains are being aided by domestic Chinese subsidies aiming to convince drivers to ditch petrol cars – it sells 90% of its vehicles in China. Tesla maintained a slim lead in EV sales over BYD in 2024, but the Shenzhen-based firm has been closing the gap. The rise of BYD and Tesla contrasts sharply with the challenges facing legacy car makers such as Honda and Nissan , Volkswagen and Stellantis , which have been struggling in major Western markets.
ELECTRIC VEHICLES BYD TESLA CHINA AUTOMOTIVE INDUSTRY
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