BYD's 2024 BEV Production Edges Out Tesla by Over 3,500 Units, Signaling Broader Market Shift

Shenzhen, China – BYD, the Chinese electric vehicle (EV) manufacturing powerhouse, has officially surpassed American rival Tesla in battery electric vehicle (BEV) production for 2024, marking a significant milestone in the global automotive industry. This development, highlighted by analyst Samo Burja on social media, positions BYD on a trajectory to potentially become the largest car company worldwide. The company's comprehensive strategy, rooted in its battery technology expertise, is driving its rapid expansion and challenging established market leaders.

In 2024, BYD produced 1,777,965 BEVs, narrowly exceeding Tesla's 1,774,442 BEVs, according to data from Statista. This achievement follows BYD's initial quarterly lead in Q4 2023. When including plug-in hybrids (PHEVs), BYD's total new energy vehicle (NEV) sales for 2024 reached a record 4.27 million units, demonstrating its dominant position in the broader electrified vehicle market.

BYD's success is largely attributed to its founder and CEO, Wang Chuanfu, a trained battery chemist who established the company in 1995. His vision has fostered a highly vertically integrated manufacturing process, allowing BYD to produce critical components like batteries, electric motors, and semiconductors in-house. This strategic control minimizes external dependencies, enhances cost efficiency, and enables rapid innovation, such as the development of its acclaimed Blade Battery technology.

The company's aggressive pricing strategy, particularly in its home market, has pressured competitors and fueled its sales growth. BYD's diverse model lineup, ranging from affordable options to premium brands, caters to a wide consumer base. This approach has allowed it to gain substantial market share, especially in China, where it accounted for 32% of NEV sales in 2024, compared to Tesla's 6.1%.

Concurrently, Tesla has experienced notable sales declines in key European markets. In July 2025, Tesla's new car sales plunged by nearly 60% in the UK and 55.1% in Germany, according to industry data. In contrast, BYD's sales in these regions soared, quadrupling in the UK and increasing by 390% in Germany during the same period, indicating a clear shift in consumer preference and market dynamics.

BYD continues to pursue ambitious global expansion, with plans for new manufacturing facilities in Hungary, Brazil, and Thailand, aimed at localizing production and mitigating tariff impacts. The company has set a target of 5.5 million vehicle deliveries for 2025, representing a nearly 30% sales growth. As Samo Burja noted, BYD "is a live player led by a battery chemist with ambitious scaling and export plans," signaling its intent to further solidify its position in the global automotive industry.