Chinese company BYD (BYD) has overtaken Tesla to become the world’s largest producer of electric vehicles.
BYD achieved record car sales last year, including 525,409 electric vehicles in the final quarter, surpassing its American competitor, which sold 484,507 vehicles, according to stock exchange filings.
In a statement released in China, the Shenzhen-based group declared itself the global champion in new energy vehicles.
This announcement followed the company’s total annual sales exceeding three million units, including plug-in hybrid vehicles.