BYD's December EV sales pushed its yearly total to over one million vehicles. Subsidies and discounts contributed to the surge as BYD competes with Tesla for the title of the world’s best-selling EV maker. BYD's vehicle sales jumped over 41% in 2024, driven by strong demand for hybrid models and price reductions in China, which sells 90% of its vehicles. Intense competition and government incentives fueled EV adoption, extending BYD's lead over brands like Volkswagen and Toyota. Tesla is set to release its quarterly sales figures later on Thursday.