BYD sees strong sales surge, outpacing Tesla in EV race
Chinese electric vehicle giant BYD (BYDDY) has seen a remarkable 60% increase in sales during the first quarter of 2025, outpacing its rival Tesla (TSLA), which has faced setbacks.
The EV maker based in the southern Chinese megacity of Shenzhen sold just over one million new-energy vehicles in the first three months of 2025 – including battery-powered cars, hybrids and commercial vehicles – according to a CNN calculation based on its latest stock exchange filing. Its sales of pure EVs soared 39% to more than 416,000 units, News.Az reports, citing CNN.
BYD has been on a roll. Just last week, it reported a record annual revenue of $107 billion last year. By contrast, Tesla’s 2024 revenue was $97.7 billion, and its annual deliveries declined for the first time last year by 1.1%.
The vast majority of BYD’s shipments last year were delivered to domestic customers with just 10% exported to overseas markets. As a result, investors and analysts are bullish on BYD’s growth potential as the automaker advances in markets like Europe, Southeast Asia and South America.
In Europe, where BYD is making inroads and building two manufacturing plants, Tesla is struggling with slumping sales. In February, Tesla’s sales there plunged around 40% from the same month in 2024, according to the European Automobile Manufacturers’ Association.
Last week, Wang Chuanfu, BYD’s founder and CEO, pledged to boost total shipments by nearly 30% this year and nearly double its overseas deliveries to more than 800,000 vehicles, according to state media.
BYD has unveiled a series of eye-catching innovations in the first quarter. Last month, it introduced a revolutionary battery charging technology that it says adds 250 miles of range in five minutes – surpassing Tesla’s Superchargers, which take 15 minutes to add 200 miles. In February, BYD launched an advanced driver-assistance system that rivals Tesla’s Full Self-Driving feature, offering it at no extra cost for most of its models.
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