Chinese electric-vehicle growth continued in December, with BYD set to take the crown of largest seller from Tesla for the second time. Growth alone, however, wasn’t enough to give all the Chinese EV stocks a boost.

Chinese electric-vehicle makers enjoyed strong sales in December 2024 as the country’s EV price war continued.

BYD sets a new EV sales record, narrowing the gap with Tesla. Discover how the Chinese automaker is challenging Tesla’s dominance in the electric vehicle market.

Leading Chinese electric car maker BYD's vehicle sales surged in 2024, the company said in a statement, as the firm grows its overseas presence.

BYD's sales jumped significantly at the end of 2024, bringing the Chinese EV maker closer to Tesla in the race for global electric vehicle supremacy. With a 41% year-on-year increase, BYD's impressive performance comes amid growing competition,

China’s BYD Co. enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year, narrowing its gap with Tesla Inc. as the two vie for the crown of top-selling electric-vehicle maker of 2024.

Earlier in 2024, the US and Canada raised customs duties on Chinese EVs to 100%. BYD’s figures come after global EV sales hit a record 1.8 million units in November, according to industry research company Rho Motion.

Chinese electric-vehicle makers have benefited from a government trade-in program in the world’s largest market for EVs.

BYD’s aggressive year-end sales push worked. China’s leading EV maker sold a record number of electric cars in 2024,