Overview
- Global EV sales reached 20.7 million in 2025, up roughly 20% year over year, with China and Europe driving gains, according to Benchmark Mineral Intelligence.
- BYD sold about 2.26 million EVs in 2025, rising roughly 28%, expanding across 100+ countries, and outselling Tesla in Germany and the United Kingdom.
- Tesla delivered about 1.8 million vehicles, down around 9% for a second straight annual decline as U.S. demand weakened after the tax credit expired.
- Fourth-quarter EV sales dropped 49% quarter over quarter, reflecting the abrupt pullback tied to the U.S. incentive change reported late in 2025.
- BYD is in talks to supply EV batteries to Ford for factories outside the U.S., a developing arrangement that has not been finalized.