It marked the first quarter its battery-only sales have outpaced Tesla's.
In a statement published in China, the Shenzhen-based group called itself the “world champion” for “new energy vehicles” after notching total annual sales of more than 3mn for 2023 across its vehicles — which also include plug-in hybrid cars.
BYD’s vertically integrated structure — it controls mines and produces batteries and chips — has made it the envy of foreign rivals as the global car industry transitions away from the combustion engine.
