USA – Chinese car maker BYD saw its sales jump at the end of last year, as it competes with Tesla to be the world’s best-selling electric vehicle (EV) maker of 2024. The company says it sold 207,734 EVs in December, taking its annual total to 1.76 million, as subsidies and discounts helped attract customers.

It comes as Tesla is due to announce its own quarterly sales figures later on Thursday. The US electric car maker maintained a slim lead in EV sales over BYD in the previous quarter but the S henzhen-based firm has been narrowing the gap. BYD’s total vehicle sales jumped more than 41% in 2024, year-on-year. The surge was powered mainly by sales of its hybrid cars.

The company has benefited from a rise in car sales in its home market, as intense competition drove down prices and government subsidies encouraged consumers to replace their old cars with EVs or other more fuel efficient options. BYD sells 90% of its cars in China, where its been extending its lead over foreign brands like Volkswagen and Toyota. The rise of BYD and other Chinese EV makers contrasts with the challenges faced by some legacy car makers, which have been struggling in major Western markets. Last month, Honda and Nissan confirmed that they were holding merger talks, as the two Japanese firms seek to fight back against competition from the Chinese car industry. (BBC)

Photo: The Chinese EV maker saw record sales in December. (Getty Images)