"Tesla has officially ceded its long‑held crown as the world's top electric‑vehicle maker, with China's BYD now firmly in the lead after a year of surging sales in Asia and stalling demand for Elon Musk's cars. The changing of the guard comes as Tesla reports its second straight annual drop in deliveries, underscoring how quickly the balance of power in the global EV race has tilted toward China."
"China's BYD said this week it sold about 2.26 million fully electric vehicles in 2025, an increase of nearly 28% from the prior year and enough to make it the world's largest EV seller. The Shenzhen‑based company's battery‑electric tally does not include its vast plug‑in hybrid lineup, which brings total "new energy vehicle" sales to roughly 4.6 million last year."
China's BYD sold about 2.26 million fully electric vehicles in 2025, a near 28% increase from the prior year, making BYD the world's largest EV seller. BYD's plug‑in hybrid models brought total new energy vehicle sales to roughly 4.6 million. Tesla's 2025 deliveries fell to roughly 1.6 million vehicles, down about 8–9% from 2024 and marking a second consecutive annual decline after peaking in 2023. The end of U.S. federal EV purchase subsidies coincided with weaker demand for Tesla's cars. Analysts projected a sharper fourth‑quarter decline; Tesla reported a 15% Q4 drop to 418,227.
Read at Fortune
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