Chinese automaker BYD has likely overtaken Tesla to become the world’s biggest EV company, a rare bit of good news for the firm as brutal competition at home threatens to overshadow its expansion.
Overall BYD sales growth slowed to its worst pace in five years, in part because of a cutthroat price war within China, as well as what its own chair has described as a weakening technological lead.
Expiring subsidies and tax breaks are likely to make China’s car market even tougher in 2026, according to the South China Morning Post. But news may be worse still for Tesla, which took the unusual step of publishing analysts’ forecasts, suggesting future sales are unlikely to match internal targets.
