Chinese company BYD has met its annual sales target and is likely to surpass Tesla’s sales results, becoming the world’s largest electric vehicle manufacturer in 2025.
Chinese company BYD has met its annual sales target and is likely to surpass Tesla’s sales results, becoming the world’s largest electric vehicle manufacturer in 2025.
According to a company statement cited by Bloomberg, the Chinese electric car manufacturer delivered 4.6 million electric vehicles last year, up 7,7% from 2024.
However, the publication predicts that BYD and its competitors will face greater difficulties this year as China reduces some economic incentives in this industry.
In addition, the Chinese manufacturer faced stiffer competition last year from Geely and Xiaomi, whose new electric car models are quickly winning over consumers, and this trend is set to continue.
BYD CEO Wang Chuanfu said at a meeting with investors in early December that the technological advantage the company had enjoyed over the past few years had waned, affecting its sales in the domestic market.
A bright spot for BYD this year was the growth of overseas sales: shipments outside China reached 1.05 million units in 2025. In 2026, the company set a goal of expanding overseas sales to 1.5-1.6 million units.
Either way, the publication predicts that BYD’s gap with Tesla, which will face its own difficulties in 2026, can only increase.
As dev.ua wrote, the government did not take into account the amendment to the draft state budget to extend the benefit for electric cars until 2027, despite the support of the proposal in the Verkhovna Rada, so Ukrainians can forget about cheap electric cars for now.
