Business / Cars

China’s BYD is selling more electric cars than Tesla

By Laura He and Chris Isidore, CNN
3 minute read * Updated 10:34 AM EST, Tue January 2, 2024



BYD's ATTO 3 model displayed in Munich, Germany on September 4, 2023 Leonhard Simon/Reuters

Hong Kong/New York (CNN) — BYD overtook Tesla to become the world’s biggest electric car company in the final quarter of 2023.

The Chinese company sold a record number of cars last year, including 525,409 battery electric vehicles (BEVs) in the three-month period to December 31, according to a stock exchange filing. Tesla said Tuesday it delivered 484,507 — also a record — during the quarter.

Over the year as a whole Elon Musk’s Tesla (TSLA) still outpaced BYD, selling 1.8 million electric cars. BYD sold 1.57 million electric vehicles, up 73% on 2022, as well as 1.44 million hybrids.

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BYD cars waiting to be loaded onto a ship at the international container terminal at Suzhou Port, in China's eastern Jiangsu province, on September 11, 2023. AFP/Getty Images

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An aerial view of Tesla's Gigafactory on March 29, 2021 in Shanghai, China Xiaolu Chu/Getty Images

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