Overview

• BYD, a Chinese automaker, has surpassed Tesla as the top electric vehicle (EV) maker, selling more battery-powered vehicles in the fourth quarter.
• BYD's success is attributed to its strategic investments, diverse business portfolio, and the Chinese government's support of the country's EV sector.
• BYD's rise has been aided by its history as a battery maker, with its Blade battery being a significant factor in its growth in the EV market.
• BYD is expanding aggressively overseas, selling cars in multiple countries and planning to open its first European manufacturing plant in Hungary.
• Despite the competition, Tesla's Elon Musk has acknowledged BYD's competitiveness in the current market.