Catenaa, Thursday, March 27, 2025-Chinese automaker BYD surpassed Tesla in total electric vehicle sales, including hybrids, delivering a record 4.3 million vehicles in 2024, the company announced recently.
While Tesla sold 1.79 million battery EVs last year, BYD was close behind with 1.76 million. However, its hybrid sales gave it a commanding lead in the global market.
The company also launched a new competitor to Tesla’s Model 3—the Qin L—priced at 119,800 yuan ($16,600), significantly cheaper than Tesla’s 235,500 yuan ($32,600) Model 3.
BYD continues to push technological advancements, unveiling a five-minute EV charging system last week, a major leap compared to Tesla’s 15-minute supercharging. The firm also announced that its “God’s Eye” driver-assistance system will now come standard in all models.
China’s EV sector remains highly competitive amid slowing economic growth, a property crisis, and increasing local government debt, pushing automakers to innovate and lower prices to attract cost-conscious buyers.
