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Fortune

Christiaan Hetzner

BYD sees sales soar by more than half as Tesla hampered by Model Y relaunch

BYD Tesla Inc. Elon Musk

Models stand next to a BYD Sealion 7 electric vehicle (EV) by Chinese car manufacturer BYD on display at Singapore Motorshow in Singapore on January 9, 2025. (Credit: Roslan Rahman—AFP/Getty Images)

BYD global sales jumped 56% in the first two months of this year, potentially putting it within arm’s reach of EV leader Tesla. CEO Elon Musk had to shut down all four Model Y assembly lines worldwide for retooling to accommodate the production of a refreshed version.

Tesla CEO Elon Musk had better watch his rearview mirror—China’s BYD is catching up fast.

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