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TESLA LOSES EV CROWN TO CHINA'S BYD AS COMPETITION, TAX CREDIT EXPIRY HIT DEMAND

  • NEWS Desk Global
  • 2 days ago
  • 1 min read

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Tesla ceded its crown as the world's top electric vehicle maker to China's BYD, after annual sales fell for a second year, hit by rising competition, the expiry of U.S. tax credits and brand backlash.

With global EV sales rising 28% last year, BYD outsold Tesla for the first time on an annual basis, helped by rapid growth in Europe, where the Chinese automaker has been widening its lead over the U.S. rival.

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