Overview

• BYD Co. overtakes Tesla as the world's top seller of electric vehicles (EVs), with a record 3.02 million units sold globally in 2023.
• BYD's aggressive international expansion includes plans for a new factory in Hungary and potential sites in Mexico, aiming to capture markets in Europe and the Americas.
• China's EV exports, led by BYD, surge as the country overtakes Japan to become the world's top car exporter in 2023.
• European Commission investigates subsidies for Chinese EV manufacturers amid concerns of market distortion.
• BYD's net profit jumps over 80% in 2023, signaling strong growth despite intense competition and price wars in the EV sector.