Tesla, the longtime top EV maker in the world, is now No.2. Chinese automaker BYD produced roughly 4,500 more EVs than Tesla did in 2024. Tesla still had the slight edge in annual EV sales, delivering 1.

Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.

BYD’s aggressive year-end sales push worked. China’s leading EV maker sold a record number of vehicles in 2024, but

A similar phenomenon has occurred in China, where local municipalities have implemented their own incentives for EVs. For example, the city of Nanjing in Kiangsu will give a 4,000 yuan (around $550) incentive for new cars. This pales in comparison to one deal in Colorado, for example, where residents can lease a new Fiat 500e for $0 per month.

Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.

Chinese electric-vehicle growth continued in December, with BYD taking the crown of largest global seller from Tesla for the second time. Growth alone, however, wasn’t enough to give all Chinese EV stocks a boost on Thursday.

Chinese electric vehicle makers led by BYD Co. saw a late-2024 sales boom that’s set to give way to another bruising year as carmakers face risks to demand both at home and abroad.

Chinese EV maker enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year. Read more at straitstimes.com.

All-electric vehicles represented 41.5 per cent of BYD total sales with 1.7m BEVs sold and hybrids securing the rest. Vying with BYD is Tesla, which will reveal its 2024 sales figures in the first quarter of 2025. Tesla delivered 1.8m pure-EVs in 2023, though the American firm was 2.3 per cent down on this figure after nine months in 2024.

The EV giant sold 1.76 million electric cars in 2024, per figures released on Wednesday, putting it within touching distance of beating Tesla.