BYD Posts Record Quarterly EV Sales in Challenge to Tesla for Top Spot

(Bloomberg) — Chinese automaker BYD Co. Ltd. sold 526,409 fully electric vehicles (EV) in the fourth quarter, meaning Tesla Inc. will need a record showing to maintain its No. 1 status when it unveils sales figures on Tuesday.

China’s best-selling car brand reported EV and hybrid sales of 340,178 in December — including 190,754 all-electric cars — aided by aggressive end-of-year discounting, according to an exchange filing Monday. In total, BYD sold 3.01 million vehicles in 2023.