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BYD Overtakes Tesla in 2025 EV Sales, Musk’s Rollercoaster Year Continues
In a significant shift in the electric vehicle market, Chinese automaker BYD has officially surpassed Tesla in annual sales for 2025. The company announced Thursday that it sold a staggering 2.26 million battery electric vehicles (BEVs) last year, marking a 28% increase from the previous year. When including plug-in hybrids, BYD’s total deliveries reached approximately 4.6 million vehicles.
Meanwhile, American EV giant Tesla reported sales of 1.64 million vehicles in 2025, an 8% decline from 2024. This marks the second consecutive year of annual sales drops for Elon Musk’s company.
The news comes as a stark contrast to a 2011 interview where Tesla CEO Elon Musk famously scoffed at BYD, stating, “I don’t think they have a great product.”
The year 2025 proved to be a tumultuous one for Musk. He spent the first half of the year serving in the administration of President Donald Trump as the head of the Department of Government Efficiency, only to depart in May following a public dispute with Trump.
Despite the sales dip, Tesla shareholders showed strong support for Musk in November, approving a new 10-year pay package. The deal, backed by 75% of voting shareholders, could see Musk’s stake in Tesla increase by over 423 million shares, potentially netting him $1 trillion over the decade.
While Tesla’s shares experienced a significant drop in the first quarter of 2025, they have since rebounded. The company’s stock reached an all-time closing high of $489.88 last month, following Musk’s announcement of successful driverless vehicle testing in Austin, Texas.