Chinese car maker BYD overtakes Tesla as world’s top EV maker

The Chinese company has posted record sales results showing it sold over three million units in 2023

BYD cars are charged at a dealership in China. Picture: Bloomberg

BYD, the Chinese car maker, has overtaken Tesla as the world’s biggest manufacturer of electric cars.

The US company, run by Elon Musk, delivered 484,000 cars in the fourth quarter, Tesla said on Tuesday, more than the 473,000 anticipated by analysts polled by LSEG. BYD on Monday reported record sales of battery-only vehicles of 526,000 for the fourth quarter, helped by a strong end to the year for the Chinese electric vehicle market.

However, a ...