In 2024, Tesla produced 1,773,443 electric vehicles, while BYD outpaced Tesla slightly with 1,777,965 produced. This marks a critical shift in global EV leadership.
Tesla faced sluggish demand due to its aging vehicle lineup and intensified competition. This led to a historic decline in annual sales for the first time.
The company has been unable to meet its growth goals in 2024 largely due to the reliance on just two models—the Model Y and Model 3.
BYD's production and sales growth of around 12% contrasted sharply with Tesla's struggles, illustrating a dynamic shift in the global electric vehicle sector.
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