BYD set to overtake Tesla again in fully electric car sales
The carmaker’s shares rise 8.4% on Thursday, its biggest intraday gain since February 2025
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BYD IS poised to reclaim the title of the world’s top seller of fully electric cars from Tesla as the Chinese automaker ships an increasing number of vehicles abroad.
The carmaker’s shares climbed as much as 8.4 per cent in early Hong Kong trading on Thursday (Jul 2), the biggest intraday gain since February 2025.
This was after it announced on Wednesday that it delivered 557,090 battery-electric models in the three months through June.
While that is fewer than the deliveries it made in the same period last year, it will probably be enough to beat Tesla.
The US manufacturer is expected to report quarterly sales of around 396,500 vehicles next week, according to analyst estimates compiled by Bloomberg.
BYD first overtook Tesla in the fourth quarter of 2024, and maintained a significant lead through 2025 as Elon Musk’s political activities and close ties with US President Donald Trump disenchanted consumers, particularly in Europe.
However, Tesla retook the lead in the first quarter of this year, outselling BYD by around 48,000 vehicles as softening demand in China dragged down sales in the latter’s home market.
BYD’s total sales across drivetrains and vehicle types rose 5.5 per cent in June, to 403,472 units. Some 43 per cent of those were sold in overseas markets, highlighting the importance of BYD’s global expansion.
With China’s auto market entrenched in a fierce price war, BYD is focusing on technology upgrades to compete with rivals like Geely Automobile and Xiaomi.
In late May, BYD unveiled a series of advances, including what it called China’s most powerful chip for self‑driving cars as advanced driving assistance becomes a key battleground.
The company is also rapidly expanding production of its next‑generation blade batteries.
Tesla has launched a recruitment drive for driver-assistance roles in China after repeated delays to the launch of technology seen as key to competing with local rivals.
Global electric vehicle sales are on track for another record year, though growth in major markets is slowing.
In China, the world’s largest market, sales of new energy vehicles – including EVs and plug‑in hybrids – fell 7.5 per cent in May from a year earlier, according to the China Passenger Car Association. BLOOMBERG
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