BYD Set to Overtake Tesla as World's Largest EV Seller in 2025
BYD is on track to become the world's largest electric vehicle (EV) seller for the first time, surpassing Tesla in annual EV sales in 2025. Last year, BYD reported battery-powered car sales exceeding 2.25 million units, representing a year-over-year increase of about 28%. In contrast, Tesla's total sales for 2025 are estimated to be around 1.65 million, with official figures expected to be released later in the year.
BYD's rapid growth is fueled by its global expansion and competitive pricing. The company has seen strong demand in regions such as Latin America, Southeast Asia, and parts of Europe, despite facing tariffs on Chinese EVs. In October, BYD announced that the United Kingdom had become its largest market outside China, with UK sales growing by 880% in the year leading up to September. This surge is largely driven by the popularity of the Seal U plug-in hybrid SUV.
Meanwhile, Elon Musk's pay package as CEO of Tesla could reach up to $1 trillion pending shareholder approval. Musk continues to oversee multiple ventures including Tesla, X, SpaceX, and The Boring Company.
