Brief — what happened and why it matters
According to Bloomberg, in 2025 BYD sold 4.6 million vehicles worldwide: 2.3 million fully electric (BEV) and the same number of plug-in hybrids (PHEV). This allowed the company to claim first place in the global ranking of electric vehicle manufacturers for the first time — while Tesla, by preliminary estimates, sold about 1.6 million electric cars.
Reasons for the shift in leadership
A combination of factors gave BYD the edge: large-scale production of PHEVs alongside BEVs, an aggressive export strategy, and the support of a broad supply-chain base in China. At the same time, BYD's technological lead has narrowed, which affected growth rates in the domestic market and pushed the company to rely more on exports.
"The technological advantage the company had for several years has diminished"
— Wang Chuanfu, CEO of BYD (at a meeting with investors)
In 2025 BYD's shipments outside China reached about 1.05 million vehicles, exceeding expectations and offsetting the decline in the domestic market. Competition from Geely and Xiaomi is adding pressure on innovation and pricing in the segment.
Tesla's position: declining sales or a transitional phase?
Tesla is ending the second consecutive year with lower sales volumes. This is not only about losing market share — it signals that the model lineup and manufacturing approaches need to adapt to global competition, where both cost and a manufacturer's local presence matter.
What this means for Ukraine
In 2025 BYD became the sales leader in Ukraine for the first time. For our market this is an important trend — more affordable electric vehicles accelerate the shift away from fossil fuels, reduce operating costs, and offer a chance to renew commercial vehicle fleets during infrastructure reconstruction.
But there are conditions: the large-scale arrival of Chinese brands requires more charging infrastructure, safety standards, and transparent rules for customs clearance and warranty servicing. Without these, domestic consumers risk getting cheap vehicles without adequate service support.
Conclusion — what next?
The shift of leadership to BYD is not only about a brand. It is about changing the geography of production, the importance of exports for growth, and how quickly the electric vehicle market is being democratized by price and product variety. For Ukraine this is a chance for more accessible electrification, but also a reminder: infrastructure, regulations, and support must be prepared to fully seize this opportunity. Whether our state and business institutions are ready for this is the key question for the coming years.
