BEIJING — Chinese EV titan BYD reported a record-breaking 2.26 million electric vehicle (EV) sales for 2025, according to a company statement released Thursday. The figure sets a new global benchmark for any single firm and positions the Shenzhen-based manufacturer to overtake Tesla as the world’s leading EV seller for the first time on an annual basis.
The announcement, filed with the Hong Kong Stock Exchange, has signalled a shift in the global hierarchy. While Tesla narrowly edged out BYD in 2024—selling 1.79 million units to BYD’s 1.76 million—the gap appears to have widened considerably over the last year. The Texas-based carmaker had previously reported 1.22 million in EV sales through the end of September 2025, with full-year figures set to be released soon.
However, BYD’s record year comes amidst a strategic pivot where profitability in China is weighed down by increasingly price-wary consumption patterns, prompting the company to aggressively seek footprint expansion overseas. While facing hefty tariffs that limit its access to the United States market, BYD has successfully grown its presence in Southeast Asia, the Middle East, and Europe.
Conversely, Tesla has faced a turbulent year. Industry analysts point to struggling sales in key markets, exacerbated by consumer reactions to CEO Elon Musk’s vocal political support for U.S. President Donald Trump and various far-right politicians. Beyond political headwinds, Tesla is also contending with intensified competition not only from BYD and other rising Chinese competitors but also from revitalized European legacy automakers.
