BYD surpassed Tesla as the top-selling electric vehicle maker in the last three months of 2023 in China, though Tesla remained number one for the full year. BYD sold over 1.6 million new energy vehicles (including hybrids) in 2023, up 73% from the prior year, compared to Tesla's 1.8 million EV sales, up 38%. BYD benefits from strong government support for EVs in China, its huge domestic market, and lower prices than Tesla.