Elon Musk’s car business, Tesla, has lost its crown as the world’s biggest electric carmaker to fast growing Chinese rival BYD. It means Chinese rival BYD, which sold 2.26 million electric vehicles last year, is now the biggest EV maker. But the EV pioneer now also faces stiff overseas competition, including from established brands’ electric cars and cheaper new alternatives, including BYD. Tesla still outsold BYD in Ireland – selling 2,933 cars in 2025 versus the Chinese firm’s 2,633, but the gap has narrowed. Despite its declining sales, Tesla shares rose today and were up in 2025.

Source: Irish Independent January 02, 2026 19:19 UTC