Recent data compiled by S&P Global Mobility and reviewed by Nikkei shows that BYD overtook Tesla in 22 markets between 2020 and 2025.
In case you did not know this, The name “Atto” (with the popular BYD Atto 3) refers to an attosecond, a tiny unit of time, showing the company’s focus on speed and innovation.
Also known as the Yuan Plus in China, the Atto 3 officially surpassed the 1 million unit sales milestone worldwide in June 2025.
Launched on February 19, 2022, in China under the Yuan Plus name, the electric SUV achieved this remarkable feat in just 3 years and 9 months which is a testament to its wide appeal and strong global demand.
Apart from the UK, the Chinese company pulled ahead in countries such as Spain and Italy. It also gained ground in Hong Kong and Singapore, markets known for strong demand for premium cars. Last year, BYD also became the world’s top EV seller, pushing Tesla to second place, the news report said.
One reason behind BYD’s rapid rise is its pricing. In China, its passenger vehicles sold at an average price of 114,000 yuan (about USD16,600) last year. The company keeps costs low by manufacturing its own batteries and major components. This vertical integration allows it to sell competitively priced vehicles globally.
While BYD’s global reach is growing, its domestic performance has weakened. The company sold about 3.5 million passenger vehicles in China last year, roughly 10 percent fewer than in 2024.
Quarterly revenue fell for the first time in more than five years, and free cash flow dropped sharply into negative territory, the news report stated.
Lower cash reserves could limit overseas investment. To reduce trade tensions and avoid tariffs, BYD is shifting towards local manufacturing. It plans to open a plant in Hungary this year, after launching factories in Thailand in 2024 and Brazil in 2025.
Other Chinese automakers are following similar strategies in recent years. Great Wall Motor has taken over a former Mercedes-Benz site in Brazil, while Chery Automobile is acquiring factories in South Africa from Nissan Motor.
China overtook Japan in 2023 as the world’s largest car exporter. Although Japanese automakers still produce millions of vehicles overseas, Chinese companies are closing the gap quickly and BYD is leading that charge.
