China’s BYD has surpassed their expected sales and sold 1.76 million electric vehicles for 2024, reported Financial Times. This places BYD only slightly behind Tesla for the world’s leading EV sales, at 1.79 million for 2024.
Tesla’s sales for 2024 were down 1.1% from 2023, however, marking the company’s first decline in sales in more than 12 years.
In addition to BYD, China has a competitive EV market, with the next three leading EV companies having sold nearly 1 million EVs combined last year. FT reports that China is expected to sell more EVs and plug-in hybrid vehicles than combustion engines for the first time in 2025.
