Chinese EV Manufacturer overtakes Tesla
BYD, the Chinese car manufacturer, officially stands for “Build Your Dreams”. While the letters initially didn’t have a specific meaning, the company adopted this backronym for a more evocative and international image.
The company is also known as BYD Company.
BYD leads in NEV sales, both in China and globally, surpassing Tesla in terms of total vehicles sold in 2024. BYD’s car sales have experienced rapid growth, particularly in the new energy vehicle (NEV) segment. In 2024, BYD sold over 4.2 million vehicles, including both pure electric vehicles (BEVs) and plug-in hybrids. BYD has become the top-selling NEV brand in China and a global leader in NEV sales.
The BYD Seal is a high-performance electric sedan, while the BYD Sealion 7 is an electric SUV with luxury features.
BYD also has luxury models under its Denza brand, like the Denza N9, which competes with Range Rover, BMW and Mercedes-Benz.