Chinese car company BYD has now surpassed Tesla to become the world's top seller of electric cars. In 2024, BYD generated $107 billion in revenue and sold 4.27 million cars—more than double Tesla's sales of 1.79 million, which marked the first drop in their sales figures. Tesla's revenue was $97.7 billion.

BYD's success can be attributed to its competitive pricing, budget-friendly options, and advanced technology, particularly its popularity in China, the largest car market globally. One notable innovation is a super-fast charger that can provide 250 miles of range in just five minutes, significantly outpacing Tesla's offerings. There are also rumors that BYD is considering entering the U.S. market as demand for electric vehicles continues to rise.