New Delhi: Chinese automotive giant BYD has surpassed Elon Musk’s Tesla to claim the top position in the global electric vehicle (EV) market. The company recorded a staggering $107 billion in sales in 2024, surpassing Tesla’s $97.7 billion by nearly $11 billion. This achievement is a result of BYD’s cutting-edge technology and its strong lineup of hybrid and electric cars.
BYD’s Rapid Growth in the EV Market
In just a few years, BYD has established itself as a dominant force in the EV industry. The company’s cars are in high demand, especially in China and Europe. With an annual production capacity of over 1.9 million vehicles, BYD is now working towards increasing this number to meet growing demand.
What Makes BYD Cars Special?
One of BYD’s standout features is its advanced technology. Recently, the company introduced a new EV architecture with a revolutionary battery that can charge up to 400 km in just 5 minutes. This breakthrough is set to redefine the EV charging experience and could make BYD a serious competitor against Tesla and other EV manufacturers.
In February 2025, BYD reported a global sales figure of 322,846 vehicles, marking a 164% growth compared to the previous year. The company has set an ambitious target of selling between 5 to 6 million cars in 2025, a move that could solidify its dominance in the EV market.
How BYD Competes with Tesla
Unlike Tesla, which focuses exclusively on electric vehicles, BYD produces both electric and hybrid cars. Hybrid cars use a combination of petrol and electricity, providing better mileage and an economical driving experience. Additionally, BYD has incorporated ADAS (Advanced Driver Assistance Systems) into its base models, making its vehicles safer and more feature-rich.
With its aggressive expansion, innovative technology, and strong market presence, BYD is on track to become the world’s largest EV manufacturer in the coming years. If the company continues at this pace, it could leave Tesla far behind in the global EV race.